It has been more than 3 years since Energy Development Corporation or EDC has been publicly listed in the Philippine stock market as seen in the chart on the left. EDC’s stock value had been climbing from its listing date until November of 2007 and was declining during the whole year of 2008. 2009 was a different story as it bottomed out, breaking loose from its downtrend, creating a inverted head and shoulders chart pattern (indicated by the biggest red arc is the head and and the smaller red arcs beside it indicate the handle) and moving in an upward trading range (indicated by the blue dotted parallel lines) up to present. Zooming in the 1-year chart, we see a clearer picture of what’s happening. It isn’t just a trading range that we see but also a symmetrical triangle inside it. Personally, this stock is good to hold on to as long as the price remains intact within the upward trading range as for my technical analysis.