Buyers supporting higher levels but still have some work to do

Potential Buy Entry Alert to Watch TER

Time Frame : Daily

Sector : Energy/Basic Materials

Key Stats : $248.12 Million Market Cap, VWAP 0.625, ASX Ranking 513, 4 Week Av Turnover $179,360, Current Turnover (Intraday as at time of alert) $34,898.

Company Overview : TerraCom Limited (TER, formerly Guildford Coal Limited) is a new miner with a portfolio of projects in the coal bearing regions of Mongolia, Central Asia and Queensland, Australia. TerraCom’s subsidiary in Mongolia, Terra Energy, has 2 projects located in the coal bearing regions of the South Gobi and Middle Gobi.

Broker Consensus : BUY

TER – Terracom Limited

TER is showing some good signs that buyers are edging into the action at higher levels to soak up the selling pressure. Price is at a point where the buying and selling is matched so buyers still have some work to do and need to show more conviction. With good results out yesterday, we expect to see the buyers pick up but will need to see the higher low build on an increase in volume.

Stock Code : TER – Terracom Limited

Company Website : www.terracomresources.com

Current Price : 0.63

Status : On watch for potential higher low and push up through 0.70