EQX chart put in a double top @ 4.00. And then a steady decline down to a bottom @ 2.30 on fairly heavy volume.
Now we see a re-test of that 2.30,closing @ 2.27 yesterday on thin volume.I find the EQX chart reliable and consistent,so I suggest a double bottom is almost complete.So it is reasonable to expect buying to accelerate sometime soon.
The neckline @ 3.30 needs to be broken to confirm the D/B.And then 4.00-4.40 will be in sight.But thats all in the future.Having 60+ million in cash makes EQX a very safe and profitable stock in which to invest.If things go to plan and production begins late next year EQX will get in before the talked about over-supply hits in 20114.
EQX Price at posting:
$2.27 Sentiment: Hold Disclosure: Held
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