Ecr Minerals Share Chat (ECR)

any positive news this week and we should head back to the 0.25 and FAST.
One of the more difficult challenges as far as stocks or markets are concerned is to call time on an extended bear run. In the case of ECR Minerals it can be seen that there has been an extended drift since the through last summer’s double top through the 0.8p level. The issue now is whether the late May gap to the downside below 0.10p is an exhaustion feature and will enable the stock to deliver a long awaited sustained revival?

Not exactly helping build confidence here is the way that despite considerable bullish divergence in the RSI window from November the shares were unable to build on an extended positive oscillator support from the autumn to as recently as the beginning of March. Indeed, it was disappointing that the stock was not even able to recover the former July floor just above 0.3p before drifting away towards current levels. What can be said now is that we do have the backing of a July support line from last year running through 0.1p, and so far there has been a mild positive reaction from this area. Along with the latest batch of bullish divergence in the RSI window it can be said that ECR Minerals now joins the list of high octane recovery in plays that are certainly high risk / high reward in nature, although clearly from current levels the absolute downside is relatively small!

Depending on a traders degree of risk appetite, there will be entry now on the basis that the May gap to the downside is an exhaustion feature, otherwise it may be sensible to wait on either an end of day close above the gap at 0.13p / a break of the 50 day moving average at the same level, especially as this would also mean that there had also been a bear trap from below the former April 0.12p support. Either way, the initial upside here should be towards post-March resistance at 0.25p over the next 4 to 6 weeks
- See more at: http://www.shareprophets.com/analysis/536/ecr-minerals-ecr-too-early-to-call-time-on-the-bear-run#sthash.c3gABCuL.dpuf

Next week there does seem to be a reasonable chance of some news and if that does come then we will have some very good upward movement.

may test 0.11p first tho so good time to top up at that price next week imo. that's the support as 0.121p was the lowest sell today. gla

“The proceeds of the placing allow ECR to continue aggressively reshaping its business. Funding market conditions remain torridly difficult for junior mineral companies, and it is clear that any such company aiming to succeed must be creative in the way that it goes about sourcing and deploying capital,” revealed Clayson.
The company is also looking to find a buyer or joint venture partner for its wholly-owned Sierra de las Minas gold project in Argentina. The company also has the possibility of taking advantage of some tax rebates owed its Australian subsidiary, Mercator Gold Australia, which is currently in administration, but it won’t get its hands on those until the administration process is finished.

What are other shareholders views here, surely this is due a big correction on the first sniff of good news?

http://www.proactiveinvestors.co.uk/companies/news/57172/update-ecr-minerals-seeking-strategic-investor-for-itogon-project-57172.html

Reading into this I can see a potential full sale of the Thermac shares, the CEO looks dead set and you can really see the value in diversifying the investments into actual owned projects.

Good video here

You can really see the potential, I think this company is positioned to really turn itself around, a definite multi bagger from this level

http://www.directorstalk.com/stephen-clayson-ceo-of-ecr-minerals-secures-earn-in-rights-to-philippines-gold-silver/

a steady week and lets hope the 1st bit of some good news comes through next week.

Interesting end to trading here, a few buys (nothing compared to volume of late) came in and they bounced up the SP, would seem to suggest a tight supply from MM’s to the demand from the market. Hopefully a good omen as and when news is released, hopefully next week, but soon regardless.

JD

Late Buys coming in.