First Majestic Silver - Short term - BUY BUY BUY !!!
Breakup occured with high volume on 24 April.
RSI looking good.
Trend is bullish.
AG trade ideas
looking at gold silver miners3.19.20 I am talking about the mining stocks. Pierre Lassonde is the name I could not remember...interviewed on King World News. Useful...just as Kitco is useful, but treat like you would treat your dog who bites...even you. I wish I could recommend a gold/silver advisory service that has a good reputation...but I don't have one that I have followed. I DO think the good services are effective in exposing information that includes Geo-political issues for various mining companies. Two stocks I got from the Lassonde inverview. Two other stocks are from something I read or listened to...and I probably added to my watch list...I kept on the watch list. BUT YOU NEED TO DO YOUR HOMEWORK. If gold and silver break higher, the mining sector will move much higher....many times higher that the physical gold and silver.....BUT THEY ARE VERY RISKY and you don't load the boat with any one stock...you want 4 or 5 stocks or more do diversify the risk.
I am very comfortable with the markets I talk about most. I am not comfortable with mining stocks. IF ANYONE IS COMFORTABLE WITH METALS ADVISORY SERVICES THAT ARE HIGHLY RATED, PLEASE SEND ME ME A PRIVATE NOTE OR POST HERE...I WOULD APPRECIATE THIS AND WILL TAKE A LOOK. IF I LIKE A SERVICE i WILL SUBSCRIBE. I have had many advisory services over the years...never like them...and haven't had any for over 10 years>>>>but the unique Geo-political issues are important for the mining companies....and good advisory services will include this information.
$AG looking for support$AG has a good shot at finding support here as it test LTL of large symetrical triangle. LONG TERM POSITION
$AG #AG very rewarding to some #traders with patience I personally enjoy trading #daily this stock , with 2-3 K in shares , gives me worry free of outcome due to large percentage wins .
Size sometimes is difficult to alter when watching Afterhours ticks :D
$AG Breakout trade in First Majestic SilverEntry level $12.50 = Target price $14.00 = Stop loss $11.90
Looking for continuation from the breakout
short interest 11.8%
First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including La Encantada Silver Mine; La Parrilla Silver Mine; San Martin Silver Mine; Del Toro Silver Mine; Santa Elena Silver & Gold Mine; and San Dimas Silver & Gold Mine. The company was founded by Keith Neumeyer on September 26, 1979 and is headquartered in Vancouver, Canada.
Breakout or fakeout? Due to the rise of the silver price, this stock has broken out with a strong body candle. Will it sustain? We could expect another retest of this level, but many indicators are in our favor.
The volume speaks for itself, and the RSI has much room to the upside.
Overall the ROI is good considering the previous rally from this level.
Commodities bull breakouts: AG making move towards resistanceSilver starting to make it's move to breakout of consolidation and pullback and miners, esepcially the juniors really pushing hard up.... expect next move to test resistance line above.
AG - Great Pure Silver PlayFirst Majestic is a top notch pure-silver miner from what I’ve read. I spent last year and much of this year accumulating it in the $5-7 range shaving off a little profit here and there. Very pleased with the recent run but I think this has a lot more to go due to silver’s potential and it being a well-managed company.
This is one of the healthiest miner charts I’ve kept an eye on. Notice the subtle landing on the fast EMA that provided two more entries followed by the push to the 21 EMA that provided two more. Now that silver got out of the gate and is taking a breather, this one has made a healthy test of the 50 SMA.
Plan:
Need a close above the 50 SMA, upward cross of the 9 EMA on the RSI mid line (levels set to 50 instead of 80/20) for a signal. Confirmation will be price exceeding signal close. Since this is a retest of a longer MA I might open with half a position and add the other half when price exceeds the last high of $11.32. Stop loss will be 1.5x ATR.
Not financial advice. Will update when active.
AG weekly bullflag setup on MondayWatching AG for a breakout on the weekly chart. Ideally want to see 2mill volume in the first hour to allow us to disregard hourly overbought rsi to some degree until closer to the upper 70s. Lack of resistance in this area because of the significance of the dump years ago. Be aware of overbought weekly chart and extended monthly chart.
FIRST MAJESTIC RALLIES WITH PRECIOUS METALS. =====SHORT TERM TARGET $12.50=======
BREAKOUT LEVEL $11.00
BELOW MA34 IS A SHORT.
First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including La Encantada Silver Mine; La Parrilla Silver Mine; San Martin Silver Mine; Del Toro Silver Mine; Santa Elena Silver & Gold Mine; and San Dimas Silver & Gold Mine. The company was founded by Keith Neumeyer on September 26, 1979 and is headquartered in Vancouver, Canada.
FIRST MAJESTIC SILVER CORP 1D CBOE BZXSnapshot of 50MA and 200MA relationship on 1 Day AG (silver miner) chart.
Possible hold on the bull runWe must watch the lower yellow zone of the white upward channel and see if that holds. The RSI is diverging which tells me we might be starting a correction, but if we bounce and the RSI can break to new highs, we could continue onto the $13 range before a major correction.
I'm out for now to see what happens.
Potential 10:1 (reward: risk) - swing trade, looking at price action for entry.
- broke resistance now retesting demand zone.
FIRST MAJESTIC SILVER the miner I likeFirst Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico.
Earnings growth is expected to exceed the low risk savings rate of 2.7%.
level of debt (20.2%) compared to net worth is satisfactory (less than 40%).
First Majestic Silver Corp Bullish Potential.The top silver stock has aggressively broken above a +2 year bearish Channel Down on 1W (RSI = 79.546) and showcases significant long term bullish potential. If a new Channel Up emerges on 1W then the Buy Zone is within 7.00 - 8.00. If the 1W Resistance break out aggressively then again the bullish potential will be even stronger. In both cases we will be going long.
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