I'm wondering if SILEF has finally formed a bottoming pattern (which I coin the "elephant feet pattern") by marking an uptrend with a +$0.01 higher low. The previous cascade downward was caused by either a stock consolidation and split... one or the other. March 4th's $0.99 could be the bottom for now. Zooming out a few years, previous bottoms were $0.98 & $0.96. Every cent counts for penny stocks, so any future price below $0.99 is a warning sign. SILEF has a ton of torque, often rocketing up soon after bottoming. I'm curious if it can make it back up to maybe $2. I mapped the way back up with Fib retracement and resistence levels.
The company's coal mine in Mongolia is in production, otherwise its silver mines in Bolivia and nickel and vanadium mines in North America could come into production in the next year or so. The company owns 37% of the stock so it doesn't have an interest in the share price remaining low. Trade wisely, my friends.
The company's coal mine in Mongolia is in production, otherwise its silver mines in Bolivia and nickel and vanadium mines in North America could come into production in the next year or so. The company owns 37% of the stock so it doesn't have an interest in the share price remaining low. Trade wisely, my friends.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.