FMV trade ideas
First Majestic (AG) possibly going to $19 by end of FebruaryWith Silver on the breakout and inflation expectation having been amplified in the new year, AG is looking to break the current resistance at ~$14.30 as the next stop appears to be the 2016 highs of ~$19. There might be mild resistance and pullback along the way at around ~$16, which, Silver price momentum permitting, should be blown through.
Very ExcitingLooks like AG is trying to breakout.
If we can push tomorrow to $15, we will most likely keep going much further from here.
$20 should come as silver continues it’s upward push to $30+.
(Not financial advice, just my opinion)
AG: Bullish Pennant, confirmedBullish Pennant, confirmed
Pros:
Descending volume during formation
Volume increase at break out
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 6
250RSI above 50
200MA ascending
Target:
PT = 15.80$
**UPDATE**My earlier post aged pretty well in my opinion if you held on for the ride. As you can see we have established a bottom broke through the green level creating a new support. We also climbed through the yellow resistance and are re-testing that level. We got stimulus talks ahead, and don't forget dividends expected next quarter!
I see this puppy for certain reaching red resistance but if we break through that I added a trend line that you see labeled MAJOR Resistance dating back to 18' 19'.
AG: BE PREPARED FOR A LONG LONG LONG SET UPHere is First Majestic monthly chart with all levels to watch.
Given Silver strong performance and seasonability we should be looking for a break of the long term trend line.
I expect much higher price in the next few weeks.
Trade safe!
20-50% Profit Potential : SilverThere may be a short term retracement/consolidation period before moving to the upside but period should be limited due to elevated short float.
Trade: Active
Entry: 11.37
Stop: 9.09
Target1: 13.64 (50% of Position)
Target2: 17.04 (25% of Position)
Target2: 20.45 (25% of Position)
Personal Log
Buy opportunityPeople are buying this as it is dropping, you can tell that it did not drop with leverage to the spot price instead a more symmetrical correction. If you know you know. Check out some of my price points and lmk what you think...
LONG AGExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Nothing to worry about - yetAG hitting the bottom of the channel. A move to shake out the weak hands. As long as this support holds we should be good.
First Majestic Silver Breakout Massive volume coming causing a technical breakout. Currently consolidating at support.
I hope you are long metals and mining. Should have been a core portfolio position for awhile now.
FIRST MAJESTIC SILVER -> POTENTIAL POSITIVE REVERSAL -> $16,5there is a setup for a positive reversal with target $16,5; when activated ->
AG good time to buyuptrending support, above key moving averages, market is bullish overall, good risk/reward buy
TUFN - long setuptufn, trading at half its IPO price had good earnings, gaped up and looks like a buy here to me,,, do your own research , i am not a financial advisor, just look at the charts, cheers, Rick
