Westport is a good buy again

If you've followed my blog for some time, Westport (WPRT) should not be strange to you. I talked about it a couple of times in the past. Back in Sep 2011 and again Jan 2012 when natural gas was crashing, I suggested one should pay attention to WPRT. I followed the price movements of WPRT in the past 2 years or so and traded it twice with quite good profits. I think now it is the good time again to get in WPRT. I don't want to repeat the fundamental rationale why to buy WPRT.  Right now, it is the technical reason that WPRT is a great buy. As you can see below, In the past year or so, WPRT has been trading within a tight range between $28 to $31. In the past few days, it has broken up through the range. This is a very bullish move, often indicating the start of a significant uptrend. It may pull back to re-test the support line around $31. If it can hold up, then its next move may likely jump to around $40. With the strong fundamentals of the natural gas as the driving force, it won't be a surprise for me to see it go further up to challenge its all time high in the next few months. But first let's see how it proceeds from here.