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  • Exeter Resource: Weekend Update 0 comments
    Jan 18, 2014 10:01 AM | about stocks: XRA

    There is a measured move potential for Exeter Resource Corporation (NYSEMKT:XRA).

    Looking at the weekly chart below, we see a terminating wedge in process. Terminating patterns form when price action has gone to an extreme too rapidly in either direction (up or down).

    (click to enlarge)XRA Weekly

    Charts by TeleChart

    The chart shows that the past week saw an increase in volume from the prior week. This gives us some indication that the probability is shifting to higher price-action.

    Should XRA break out to the up-side, the measured move target is shown.

    Note the congestion area. This is a level of significant resistance. If XRA manages to make it to this area, it may stall out at this point.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: Gold Stocks: XRA
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