Weekly chartLet's have a look at the weekly chart. We could be seeing the first signs of a slow turnaround. I fully expect EFR to start its move up before the end of this year, as investors pile into U stocks to take advantage of everything that will happen in the U market.
The RSI shows we are now at the highest level we have been since Fukushima, encouraging. The downtrend-line which started in March of 2011 broke to the upside in May, we went back and touched the downtrend-line from above in June, bounced and are now resuming the uptrend. All this is textbook. We closed above the 50 day moving average as well... very nice.
I expect all U stocks to close the gaps they made to the downside, when Fukushima took place, by the end of 2014. That should coincide with a U price of $75 to $80, and for EFR it would mean .80 cents...
Disclaimer: I own this stock and I'm being VERY bullish with my outlook. Anything can go wrong at any minute in the U market. I don't know much and have been wrong many times analyzing stocks, do your own due diligence, and best of luck.
Simply
