Raser Technologies Inc.(RZ) Moves Out Of Symmetrical Triangle Pattern

Raser Technologies Inc. (NYSE: RZ) rallied 18% to $1.13, after starting with a gap-up opening on Wednesday. Raser Technologies Inc. (RZ), a designer of electric motors for power generation said it won a $33 million renewable energy grant from the U.S. Treasury.

The small-cap Raser Technologies Inc. (RS), whose daily chart has been forming a symmetrical triangle with 20 day MA and 50 day MA for some time, has finally breached above its 20 day MA and 50 day MA by mid-day on Wednesday. The same confirms initial indications of a bullish pattern that may soon be apparent on technical charts of Raser Technologies (RZ).