Text book cup and handle formation. Look at a 3 year daily chart. These are very powerful formations from a TA perspective. The reason being they establish a long basing period. This is what I see:
Jan thru Feb 2008 TSO was trading in the low $40s before breaking down finally stopping around $10 in Oct 2008. This formed the left side of the cup. TSO based from Oct 2008 until Sept 2010 bouncing between $10 and $14 for the most part, with a spike up every now and then. This formed the bottom of the cup (looks more like a saucer at this point). TSO made the final test of the bottom in Aug 2010 and started it's move up. Nov 2011 earnings confirmed the move with a breakout above $15. It was fairly easy sailing until TSO approached $19 (2 year high) and earnings. Backing and filling for a month was frustrating, but TSO was setting up. Earnings provided the catalist. Today TSO broke out from the consolidation. TSO has now formed about half the right side of the cup. If the pattern holds true, TSO should move to $27 without too much resistance, consolidate again probably around next earnings, then make the push to $40. This will complete the cup of the formation. Then, TSO will probably correct back 20% and form the handle. Then TSO will begin a long uptrend to old highs IF the environment continues to improve and stay favorable.
Of course this is all MHO.
Sould be very interesting and profitable over the next year.