Ivanhoe Energy broke upward and outside of its cup and handle pattern in Friday's trading on strong (though not abnormal) volume. It closed near its high of the day and there is enough optimism in the pattern to suggest a move to the $3.15 or $3.20 area. A move above that may take some time, however, as there is about four months of inventory sitting above these levels. Buying on a pullback would be preferable. Perform your own due diligence.
