FIRST MAJESTIC SILVER -> POTENTIAL POSITIVE REVERSAL -> $16,5there is a setup for a positive reversal with target $16,5; when activated ->
Firstmajesticsilver
First Majestic Silver : Pitchfork RetracementsHealthy Upleg and Bullish RSI.
This stock is a great way to play the bull silver market.
It is a cult stock, with famous and great management.
This is the largest silver producer (operations mainly in Mexico) with long term reserves.
Great long term play.
Not cheap but marginal when looking at the current silver price...
Bearish Wolfe Wave Coming Up To EarningsPossible bearish wolfe wave / rising wedge on First Majestic Silver. Viewed on 4hr / 240min chart, also seen on daily chart. Coming up to earnings date. Just started trying to identify wolfe wave patterns, so will be interesting to see how this plays out.
First Majestic Silver - Key Levels to WatchWe can see higher highs forming and a key resistance at $8.
This resistance must be crushed with high volumes for the rally to sustain.
I think it is a nice trade to try out!
First Majestic Silver - Short term - BUY BUY BUY !!!
Breakup occured with high volume on 24 April.
RSI looking good.
Trend is bullish.
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.
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.
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
