RE:RE:RE:RE:RE:RE:Tons of gold , for which they ' d kill .Have to agree with HS on this one. There are situations, especially with large cap stocks, where the charts can be a useful tool. But in a junior resource stock such as EXS we are talking about a purely news and promotion driven vehicle. When it comes to EXS (or MEK, PBR, MKR, etc.) you can pretty much deep six the charts. For example, yesterday's late afternoon decline in EXS was likely due to some holders dumping stock to avoid a possible Friday after- the-close NR from EXS. EXS has yet to release an official NR stating that Teck is staying around for Phase II. When that release comes out, expect a bump in EXS up to 2016 highs. The charts are blissfully unaware of these behind-the-scenes developments. Perhaps the charts can sense changing investor sentiment, and the madness of crowds, but in the case of junior mining stocks that's about it.
On the other hand, let's say the rumor about Premiwer Wynne and the anticipated mine extension at Kidd Creek had been true. If Glencore had chosen Thursday to release that news, and had given details that would lead the market to believe that the new deposit lay adjacent to one of EXS's Kidd Creek claims, then the stock of EXS would have shot up pretty much instantly. No chart would have accurately anticipated that sudden move.
Over the next few months, the direction of EXS will be determined by Teck, drill results from TPW, drill results from Ogden, upcoming plans for Kidd Creek, and how EXS manages its exploration budget. Sorry, but the charts are a poor tool for determing whether there's gold on our properties, how much, and what grades. Charts don't know butkus about geology and economic deposits. In this space they are about as useful as a weather vane or tarot cards.