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TMCNet:  Exeter Resource Up 11.6%, Shares Break Through Resistance (XRA)

[November 08, 2012]

Exeter Resource Up 11.6%, Shares Break Through Resistance (XRA)

Nov 08, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Exeter Resource (AMEX:XRA) is one of today's best performing low-priced stocks, up 11.6% to $1.54 on 1.1x average daily volume. Exeter Resource has traded 288,000 shares thus far today, vs. average volume of 258,000 shares per day. The stock has outperformed the Dow (11.6% to the Dow's -0.2%) and outperformed the S&P 500 (11.6% to the S&P's -0.4%) during today's trading.
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Exeter Resource Corporation explores for, evaluates, and develops mineral deposits in South America. The Company's focus is on gold exploration in Argentina and Chile.

Exeter Resource has overhead space with shares priced $1.54, or 84.6% below the average consensus analyst price target of $10.02. The stock should run into initial resistance at its 50-day moving average (MA) of $1.63 and subsequent resistance at its 200-day MA of $2.16.

In the past 52 weeks, shares of Exeter Resource have traded between a low of $1.21 and a high of $4.20 and are now at $1.54, which is 27% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Exeter Resource on October 11th, 2012 by issuing a Downtrend alert when the shares were trading at $1.48. Since that call, shares of Exeter Resource have fallen 6.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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