EXCO Resources (XCO) is an oil and natural gas company with a focus on shale resources. In 2008 it even touched the $40 level, but then started a suffered decline that dragged the price around the current price of $2. Not exactly a brilliant cursus honorum. Nevertheless, since the beginning of this year something has changed. The daily chart is drawing a nice inverted head & shoulders pattern, embellished with a spectacular stopping volume bar on March 20th. It has also just broken a descending wedge and started a compression process which could herald an explosive movement, probably upwards. Yesterday, last but not least, EXCO has released its first quarter earnings report, which was better than expected. Are we ready for a hike?