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ECU Silver – Year End Review

Posted by admin on January 4, 2010 · Leave a Comment 

ECU Year EndIn an ECU Silver article I wrote on Dec.9 I stated:

” I would take a wait and see attitude to see if it can stay above the 200 day MA.
Also, sustained daily volume of 1,000,000 plus shares is vital to ensuring upside potential.”

As you can see by the chart the stock traded above and below the 200 day MA since and closed the year at $0.74 just slightly above the average. Unfortunately, volume decreased over this same period but that may simply be attributed to the seasonal slowdown. I would anticipate that any selling pressure will meet a huge support at $0.65 and first resistance at $0.90. Both the RSI and MACD indicators read neutral to bullish.
ECU Year End

Filed under Carl's Tips, Ecu Silver Mining, Hot Metal Stocks, Hot Resource Stocks · Tagged with Ecu Silver Mining, Mining, Silver

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