PAAS - Silver about to take everyone by Surprise - LONG @ OpenSilver is looking to breakout soon and with all the Monetary Stimulus coming Silver is a good store of value. Not to mention Biden's GREEN NEW DEAL will call for Solar panels all using SILVER. Demand will go up and PAAS is poised to reap the rewards more than the underlying commodity.
The Chart shows planned entry at the OPEN tomorrow morning. (Expected Entry Price ~$33.52) SL = $31.23 and Target Price of $57!!! LARGE BULL FLAG shows upside price target of $57.
Multiple Time Frames including Weekly, Daily, and 8 hr ALL flashing a BUY signal. MACD broke its downtrend and is now rising and crossing UP over 0 line as well as Bullish Divergence all of which indicate momentum and trend is now to upside despite the fact we have not broken out of Bull Flag. This is slightly risky trade in that I usually wait for Price action confirmation breakout. But I think this break is imminent and likely to GAP up overnight soon. Also with this trade there is a 9.5R return. So for every $ risked I stand to win $9.50. With THAT kind of Risk Reward I can lose 9 times and STILL be a winner. So going to take the trade a bit earlier than usual with expectation of breakout SOON.
PAAS
$PAAS Establishing Upward Trade Channel Despite Sputters $PAAS seems to be re-establishing its upward momentum despite resistance from the overall market.
This trader has placed a long call on PAAS, as well as doubled down on the stock position during today's slight dip. Both could be 2+ week holds waiting for this trend to firm up and shake out some investors on the inevitable dips. We do seem to see the establishment of a new trade channel. Relative highs at 39/s are a long term target for the bounceback during this time.
GL, etc
-BDR
LONG PAASExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
PAAS LONG - BULL FLAGPAAS will trigger a long entry on a break and daily candle close above the flag. Low volume on this pull back supports the bullish case along with DXY breaking to lower lows on the daily time frame. Pan American Silver Corp should follow the precious metals if they break out. Fibonacchi confluence with a 0.382 retracement off the 3/16 lows and a 0.707 retracement off the 6/18 low. Targets are green boxes. Stop loss is daily candle close below 31.95 if long entry is triggered.
The wedge will break this weekI think it will pop higher. If it pops lower, then look to buy at the 2019 trend, which is also the D100ma.
The usual summer consolidation may end early this year (See DXY). This means that the bottom is already in. The next leg up has already started. However, the usual winter impulse move higher should still happen in late Nov or Dec.
PAAS Short short position on will be adding to short once range is broken, hedge position using SL1!
SLV closing over 2016 August high of $19.71.On July 24th, SLV closing over the 2016 August high of $19.71. The next Fibonacci level (.786) is $23.48, then $26.93. On the options market, August calls for $22 was over 7000. Sept $22 calls over 12000. July 23rd, a $24/29 October call spread bought 20k in volume. FOMC meeting is July 30th and expecting jpow to say they are printing more money. Hope you all are banking on gold and silver stocks!, Have a great day! Cheers!
Newrange Gold Monthly breakout Newrange Gold Monthly breakout with highest monthly volume ever.
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PAAS to 35-37this one was actually really nice to chart lol. Alright so at the bottom i drew the little cup and handle play that started this run. also drew the trend line to the right. it has been continuously turning resistance into support so thats awesome. Idk if you can make calls on this but i would. If next resistance breaks Im expecting it to fill in that gap that i found from 2011. Dont know how accurate that gap is but it should fill quickly. Also once the gap fills we can see it ripping to 37. All time high is 40. Just keep an eye out for the resistance break. Good luck
thats all
good luck trade smart
this is not financial advice this is just what I see and think will happen. I am new and learning and I apologize if this does not come true :)
Silver At 11-year LowThis precious metal is getting decimated after Chinese factory production(electronics) collapses in the month of February, down -12% in this trading session. This is going to be the deal of the century once a bottom is found as gold and silver are the only money to stand the test of time with over 5,000 years of recorded use as money, especially in a world where every central banks is currently hell-bent on devaluing their currencies. Silver took a dive at the beginning of the 2008 financial crisis, and then eventually exploded to new highs afterward. Once you understand the difference between money vs currency, you'll understand why gold and silver are important in the financial world.
We're likely looking at sub-$10 silver/oz before the bleeding stops. Gonna be a bogo deal compared to prices last week.
$PAAS possible cup n handle breakoutAccording to my chart, $PAAS has been building uo momentum and it's movement is getting parabolic towards last high at $19.20
It will need high volume since there will be some action. the indicators show possible bull strenght allowing me to take a long/buy order right on top of the last high zone with a tight stop using the supertrend levels.
My targets are according to fib levels and it sits near 21.75 23 and $30
We could use VWAP in case there is a pullback from top. not chasing it in case it turns into a bear scenario
$PAAS Pan American Silver Chart Looking Very StrongI really like this $PAAS chart . . . broke out of an 8yr downtrend line, successfully retested and pushing higher. Could take some time/further consolidation, but get above 22-22.50 and there is major blue sky. #silver $SLV $SIL
GOLD & SILVER STOCKS ARE OVER BOUGHT! HYPE IS DRIVING THEM UPFolks, we hate to burst the bubble but...
Has anyone looked at the charts of the GOLD and SILVER stocks?
RSI, MACD and Stochastic indicators are so over bought, it is alarming and sounds the DEATH KNELL for both sectors. Anyone telling you differently has no idea what they're talking about.
To top this argument off, the big companies like GOLD and NEM are making nothing, no big profits, to run to the bank with.
Both companies recently purchased other gold producers and as of late, neither company can turn a nice profit. Look at the earnings reports...It's the truth!
In fact, GOLD barely hit estimates and revenue was down missing estimates. WHY..? ASK YOURSELF WHY? THE NUMBERS DON'T LIE!
Why are all these GOLD & SILVER companies in Canada? We've never done well with Canadian stocks because at the end of the day, most if not all turn out to be a huge scam.
Both GOLD and NEM have had plenty of time to sell gold at these record prices but yet both companies are unprofitable or making a few cents. Why is this?
We cashed out of all our GOLD & SILVER stocks today and we will not look back. Even if GOLD hits maybe 1600 to 1800, and SILVER hits $20 to $25, none of the stocks we follow are making money and from what we can see, they will continue to lose large amounts of money into the future.
Take your profits in the stocks and move into the Indexes, ProShares, SPDR's and ETF's to play it safe. Here's are several for you to research: GDXJ, JNUG, UGLD, GLD, GDXJ, UGL, GDX, DGP, BAR, GLDM, IAU, SLV
Every piece of GOLD & SILVER these companies find & produce is sold forward which means, they missed out on the record high prices as of today.
Also, where are the nice 2%, 3%, 4% and 5% dividends from all these companies if they're doing so well? Wall Street wants you to believe that because GOLD & SILVER are at record highs, GOLD & SILVER stocks should follow.
This argument is one big FRAUD AND A HUGE SCAM!
TAKE YOUR PROFITS AND DON'T LOOK BACK...WE DID TODAY...NEVER ARGUE WITH A PROFIT!!
BEST OF LUCK TO EVERYONE WITH YOUR TRADES!
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XAUUSD: Gold bottomed here, longer term trend remains up...I like the odds in buying Gold here. We started buying it yesterday, near the lows, today gives further confirmation as miners surged, and preciouis metals are posting new daily highs as well. Quarterly timeframe is in an uptrend as long as Gold holds over 1245 ish.
Best of luck,
Ivan Labrie.
PAAS - A random IdeaDaily Formations allow for bigger moves. I'm interested in shorting on this backtest.
Also, my interpretation of what might happen. 90% chance it won't follow the path correctly, but I like to let the mind wander.
XAUUSD, GOLD, ABX, GDX, PAASAttempting to put more pieces of the puzzle together, considering my ideas on the miners recently published, from what I have seen over the years, B / X waves or alike (as potentially marked on the chart with a black line) usually have a subsequent opposite move in price at the end of such a wave. Therefore, the move in gold from 2016 low would have ended with a subsequent fall crashing through the lows, perfect example being the wave Jun-Sep 2012.
The fact that the price is struggling to fall lower on numerous occasions since the 2016 advance, in addition to the most recent print on the weekly having a wick and green candle, leads me to believe that at least the previous highs are able to be breached. Then, there may be a fall lower, but that is another analysis when more price info is available.
Summing up, evidence suggests that a bottom (or soon to be) of this down move is in, and now a move higher is in progress. Whether it is impulsive or not, I do not know. Therefore, this move up could possibly tie in with the simple analysis I have most recently put forward for the miners.
ABX, GDX, PAASSame as my recent ABX, GDX chart.
PAAS appears to be playing along nicely with a sideways consolidation with classic text book decreasing volume, as well as other indicators looking encouraging, so would expect another pump higher regardless of wave count (either impulsive or corrective). HOWEVER, I have also seen breakdowns from these forming triangles, which I didn't expect, so although this provides more evidence for higher price in the future, it is still hard to tell.