1. Could there be some sort of corporate buyout or agreement in the works?
2.Was there news on some investor site recommending buying EGI?
3. Institutional investors loading up?
4. General revelation that EGI has a bright future by many small investors?
What's your take?
Sentiments change quickly. It is one of the "7 Stocks Losing Top Investor Support" voted by the Motley Fool community December. http://www.fool.com/investing/general/2009/12/30/7-stocks-losing-top-investor-support.aspx
Ivanhoe Energy also enjoys a spike rising more than 20% last month.
I'm not doging EGI! I love EGI, and I'm pissed that I missed this recent action.
But the reverse symmetrical triangle cited in your link is not correct. The pattern shows 3 peaks on top, not two as cited, and there are no subwaves (should make the entire pattern look like two head and shoulders with the second one much larger). On top of that, it's a five year chart!
I'm only bringing this up because I'm thinking of shorting EGI now. I trade more on fundamentals than I do technicals, but the lack of info makes it impossible for a little guy like me to trade EGI on fundamentals.
Not sure, but this stock was mentioned by an influential small cap analyst named Peter Grandich this morning who most likely bought a big chunk for himself a few days earlier. www.grandich.com
He has not mentioned this stock before but he's got a big following, especially among Canadians. Good luck
Don't know but I was going to buy a boat load a few weeks ago when it was in the 2.20's. I was just waiting for it to drop some more. Big mistake. If there isn't any news soon I might try shorting it.