Welcome To The Golden Minerals HUB On AGORACOM

Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

Free
Message: ECU technical etc

Hey AP, hope all goes well with your dad.

You make some valid observations on the ECU chart and as you observed, ECU has broken through a downtrend and seems to be retesting before moving higher.

There are many other technical formations occurring including the completion of a cup-and-handle as Clive Maund eluded to earlier.

The 3-year chart (seen below) probably does not look very appealing, however there is silver lining of course, and in this case ECU has been forming a very long base in what Stan Weinstein calls Stage I of his four stage stock chart cycles.

We currently are in Stage I or a basing range, to be followed by the advancing stage (Stage II) where the big money is made.

According to his method, we should watch for a break above the $0.93 level on higher than average volume. I expect the shorts to use every means in their arsenal to protect this line.

At that point we will likely see the start of a major move that should take us quickly to the $1.20 to $1.30 range since there was very little shares exchanged an the way down between $1.30 and $0.90.

Share
New Message
Please login to post a reply