Technical Chart Patterns

Here we see Boise Inc. (BZ) in an upwardly trending channel, which hit resistance at $5.60 and then reversed. The reversal was not entirely negative, however, as it formed a falling wedge, which is actually a bullish pattern.

Sure enough, the falling wedge broke to the upside, after which there was sideways consolidation. Yesterday Boise reported good earnings as well as a successful debt restructuring program.