Not just hope or the break-out from the six month channel at a decadal low.
There is also a news event for ERHE expected soon. They will be announcing whether Sinopec and its subsidiary Addax Petroleum will be continuing their exploration in ERHC's JDZ blocks or not. If they are continuing, the operator will either commit to more drilling, or just ask for an extension.
So in this case the break-out on relatively high volume could be an indicator that the news is favourable, or just a new position that believes it is favourable. Sometimes this kind of price action precede news events with ERHE.
The bull flag/coil of the last six days is less important, IMO, because there was a return to normal light volume.
If the news is delayed, then we will likely retest the new support at .10 or return to the 6 month range. Alternatively, if the news is not appreciated we will expect to see a break below that range.