SHORT TERM COMMENTARY: Exco Resources Limited [Thursday 5 Aug. 2010]: (Autocomments)
Exco Resources Limited is up by 10.00% yesterday from AUD 0.30 to AUD 0.33, and has now gained 3 days in a row. It will be exciting to see if it manages to continue the gaining strike or take a minor break for the next few days. In the last 10 days the price of Exco Resources Limited has been rising in a total of 4 out of 10 days, and is up by 13.79% over the past 2 weeks. Volume also increased last day along with the price which is positive technical sign, and in total there was traded 1,68 million more shares than the day before. In total there were bought and sold 2,63 million shares for approx. AUD 869 089.
3 MONTH TREND Exco Resources Limited has broken the wide and strong rising short term trend up and even stronger raising rate are indicated. On reaction back there will be support on the roof on the current trend broken, which is AUD 0.31, a level that may pose a second chance to hit a runner. According to fan-theory AUD 0.38 will be next possible trendtop level and thereby pose a resistancelevel which may not be broken on first attempt.
Support/Resistance |s Support 1: AUD 0.27 Resistance 1: AUD N/A Support 2: AUD 0.26 Resistance 2: AUD N/A Support 3: AUD 0.25 Resistance 3: AUD N/A
EXS Price at posting:
32.5¢ Sentiment: ST Buy Disclosure: Held
