Great to see AEM has confirmed the breakout on the weekly chart. With a close above resistance (now support) on the weekly chart being extremely positive.
I must admit to preferring the small incremental increases of only a few 0.001's each week (then by going up by .5-.8c) as this will mean the recent moves are more likely to hold on to price gains (and the eventual breakout trade when whatever progress is being made by the company is announced, the break will be so much more powerful), with the any retracements to test previous resistance (nothing rarely goes up in a straight line) areas will be short lived.
In its current form of changing business direction the chart prior to November 2008 may as well be ignored as that trading was all due to the previous business. However, psychologically those price points will probably come in to play, which I why I have taken a look on a quarterly by quarter basis.
Looking purely at the chart on a quarterly basis (since 2005), the next resistance to overcome is 2.5-2.8c and then the 4c, then 7.5-8.0c region.
Here's looking forward to what is ahead.
D: Hold plenty
Cheers
Clever1
EOR Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
