By Tim - http://stockstobuy.org
The following is technical analysis on Rare Element Resources Ltd. (REE) stock for February 3, 2011
Rare Element Resources Ltd. (REE) Support & Resistance Levels - 2/3/11
Resistance Levels: $15
Support Levels: $12.50, $12
http://stockcharts.com - Chart
Rare Element Resources Ltd. (REE) stock is showing signs of a new break out after the stock spiked into the $14's yesterday. I personally would rather own Molycorp (MCP) and do so because Molycorp has their rare earth mine coming online about 2-3 years before Rare Element Resources Ltd. (REE). A lot can change in the industry in this time. However, if you want to trade Rare Element Resources Ltd. (REE) stock, watch resistance at $15. REE has found some solid support in the $12's so this would be a good area to start buying if you are looking for an entry point.
Rare Element Resources Ltd. (REE) Support & Resistance Levels - 2/3/11
Resistance Levels: $15
Support Levels: $12.50, $12
http://stockcharts.com - Chart
Rare Element Resources Ltd. (REE) stock is showing signs of a new break out after the stock spiked into the $14's yesterday. I personally would rather own Molycorp (MCP) and do so because Molycorp has their rare earth mine coming online about 2-3 years before Rare Element Resources Ltd. (REE). A lot can change in the industry in this time. However, if you want to trade Rare Element Resources Ltd. (REE) stock, watch resistance at $15. REE has found some solid support in the $12's so this would be a good area to start buying if you are looking for an entry point.
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