RE: So your thinking about buying more Entree ..BG - I'm hoping Entree will find some support from its 50-day moving average at C$2.00, considering the fast-evolving and improving fortunes of the company.
Here’s an Entrée chart that shows how this might work:
https://stockcharts.com/def/servlet/SC.web?c=ETG.V,uu[m,a]dallyyay[pb50!b200][vc60][iUg50!Lg200]&pref=G
The price chart is in the middle, along with simple moving averages based on 50 days of trading and 200 days of trading.
My rationale for support at 50-day moving average, which is headed for about C$2, is that the Entree story is evolving so quickly it just doesn't make sense to look too far back in the stock's history for clues as to future price.
However, if the stock breaks down below C$2, that’s where we get down to the price levels you are cautioning us about, because you’ve got to look to the 200-day moving average for support. Yuck! C$1.35 or so is what it looks like to me.
Anyway, since my Entree purchases are recent, not ancient, I sure hope it is beating a mild retreat with support at $2 Canadian.
The difference could simply be determined by news flow, and also whether the stock catches on this summer and fall with a newsletter writer or two.
By the way, does anybody know of a newsletter writer who is covering Entree Gold?
Regards, Michael