PAAS Pan American Silver Corporation Long OpportunityWe have entered a long position on XAGUSD last month. We reached the first target, however, Silver could not break the main resistance. But the midterm trend appears to be Bullish.
17.50 remains as the main resistance and break out of this level will accelerate the bullish move. Additionally, we see an increase in the non-commercial long positions.
We see the similar structure on Pan American Silver Corp based on silver production and mining.
On the daily charts, stock stuck in a triangle and 18.70 is the critical resistance.
In the shorter term chart timeframe – H4 – it’s completed double bottom and 17.70 is the resistance/support.
We plan to enter long trade with the break out of the 17.70 resistance targeting 18.70.
The real bullish rally will start at 18.70. Closing above 18.70 may carry the stock’s price 19.90, 21 and 25.00.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
PAAS
PAAS Will grow due to the collapse of bitcoinThe BTC as been considered "the new gold" as a safe haven.
The dormient GOLD and SILVER will raise thanks to BTC tank
Stocks of industries that work GOLD and SILVER like PAAS will benefit of this movement.
This stock is absolutely in oversold situation and a investment on it maybe a great idea in my opinion.
PAAS bullish SwingGood retest gap on Thursday. This trade has the 10,20,50, and 100 EMA's on the daily between the entry and the stop. If this trade triggers, there should be a lot of support to create the bounce. The trend looks bullish on all time frames. Lots of room before the next longer term resistance level at 21.66 so if the trade moves in the right direction, I may look to hold for 4R
PAAS: Go long on strengthWe have a nice chance to enter longs in $PAAS here, if we break above Friday's high, we'll have a chance to retest the resistance above, as the arrow indicates. Risk is a new low, so the stop is really tight.
$PAAS has some of the biggest mines, and low operating costs, although still not profitable, so, it's not suitable for longer term investment unless you size it below 5% of your account. Here, the tight stop is ideal for a swing trade, but not for long term trades, and since I think it's likely to have sideways price action in metals, for some time, this is the type of trade I'd like to take in the sector.
Good luck,
Ivan Labrie.
PAAS: What goes up...I don't think PAAS investors will be able to prove Isaac Newton wrong here.
Silver shows potential for a downtrend in the intermediate term, which makes me think it's time to short PAAS.
Entry is at market, with stop at the highest high + 1 tick. You could also look to short calls, or other option strategy, but I'd rather short the shares. We can aim for the 15 handle, with aid from Tim West's Key earnings support indicator. If we cross the earnings level below price, we can be sure this drop will materialize.
Check out my updated track record here: pastebin.com
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance-0.46% on such information.
GOLD Nugget BULL on the run, wait for a BULL pullback firstLooking for long term trade entry around here, between $46.50 - $48. Will it ever come back to this level, only the $GLD Gods know. Check out $PAAS, $AUY, and $ABX for the next BULL pullback!! Let's make some fiat $$$$!!
PAAS going bullish with GLD, AUY, NUGT...GLD looks like it has room to run so a breakout of this area is good odds and a potential long buy for PAAS, AUY, NUGT...
