Abrasilver (ABBRF) With Weekly Cycle LowThis is a junior silver miner has confirmed a weekly low while also seeking to confirm a yearly low on 14 July 2022. If that is the case then the share will not pay much attention to what silver price does in the short-term, as seen in periods where it was falling while silver was strengthening, it could now be strong despite silver getting beat down. Price target of $0.60 is first task.
ABRA trade ideas
A Look for Touch of Channel LineHaving taken profit at $0.63 I have been waiting to get back into AbraSilver. I am looking at the lower channel line to provoke a reaction upwards. However at current price one can scale in, a falling knife wouldn't be dropping a heavy blow to inflict injury to holding position.
ABBRF ABRA SILVEROverall this is looking very strong. Silver is ready to retest $30 an ounce any time soon. Abrasilver is looking very strong on a daily chart and if I am not mistaken on a monthly chart Cup and handle are forming - if that is the case we will have some correction before taking off to the moon which is inevitable. Also RSI on daily is going to meet some resistance and on a monthly it is very close to an overbought conditions which correlates with a completion of a cup and now it is time for a handle which will bring the price down. I could be wrong but that is what I see.