EXK's 200-day moving average is $8.18. Really??? I still can't decipher why EXK is so much lower than the 200DMA. During the last 200 days, so many great developments have happened for this company. The company is firing on all cylinders. Some investors are now targeting the $7's to "take profits" after buying at recent lower levels. Good luck with that. Success should be theirs. But any significant move higher in silver prices....let's say above $35.... should propel EXK to their 52 week highs.
I have no criticism for any trader making a profit in EXK. But, I still wallow in my own amazement that the big rise in EXK's share price today took us up to only 6 1/2 bucks. Fundamentally, we've got a long way to go.
From "Stockpicker's" blog today:
"If that breakout triggers soon, then EXK will set up to re-test or possibly take out its next major overhead resistance levels at $7 to $7.45. Any high-volume move above $7.45 will then put $8 to its 200-day moving average of $8.18 into range for shares of EXK."
If all that is mentioned above sounds like cheerleading...shame on me. Regardless, this company has exasperated me due to the unbelievably depressed value. But I cling to my shares!
So a review of EXK's 6 month chart discloses that EXK's share price declined from $11/sh down to $5 a share and currently sits at $6.50....a 41% decline as of today. On the other hand, the SPX has risen from 1460 to a close today of 1545.
Thank you Dr. Bernanke! Your efforts to inflate various asset classes with $600 billion+ of free money has been successful....for now. S&P up nicely, real estate now experiencing a bounce, and gas prices continue to enjoy the upward ride. But PM's are left in the dust which historically is a total abnormality under such highly inflationary monetary conditions.
Unlike the S&P stocks that are now pricing in future "expected" rises in profitability only to experience one disappointment after another, EXK continues to REALIZE increasing profits, EXPANDS reserves, and maximizes operations by increasing refining capacity. EXK "walks the walk"....and the S&P companies (not all of them) merely "talk the talk".
Once again, EXK's ridiculously low price baffles me. Call it manipulation, charting strategies, or whatever. I tend to believe the market forces will soon reward those who do not dabble in fiat reliant investments.