Welcome To The 300 Club HUB On AGORACOM

We may not make much money, but we sure have a lot of fun!

Free
Message: Let's try again re: Silver Stocks ...
Reply New Message
Prev Message Back To Forum Threaded View Next Message
Silver Miners Acting Well

Find Investopedia on src="http://i.investopedia.com/inv/icons/facebook-btn.gif" border="0" height="22" alt="Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. Investopedia On Facebook" width="70" /> src="http://twitter-badges.s3.amazonaws.com/twitter-a.png" border="0" alt="Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. Follow investopedia on Twitter" />

Commentary: We took a >SLV) ETF just cleared an important >>EXK) is a silver miner that has been quietly >moving average, and then a pivot high near $10.40. EXK remains in a larger consolidation and has been forming an >GPL) has been trading in almost exactly the same pattern as EXK. It first cleared some resistance levels in late June and early July and after a shallow pullback, could be poised to break out of the triangle pattern it has been building. GPL found support near its 50-day moving average and a close above $4 could signal a breakout.
First Majestic Silver Corp. (NYSE:>Triangles: A Short Study In Continuation Patterns)
The Bottom Line
It’s usually a good sign when an entire group moves in unison, as it usually has institutional money behind it. The silver miners are all basically shadowing the precious metal and with silver recently clearing some resistance, it could be setting the stage for a miner rally. This, coupled with the fact that the miners have held up better than most other sectors could be pointing to higher prices for the group. Traders should monitor how these stocks react to the top of their current bases, but any breakout above resistance could lead to a fast move higher. (
Reply New Message
Prev Message Back To Forum Threaded View Next Message
Share
Share
New Message
Please login to post a reply