AG - Great Pure Silver Play
First 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.
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.
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