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FIRST MAJESTIC SILVER CORPFIRST MAJESTIC SILVER CORPFIRST MAJESTIC SILVER CORP

FIRST MAJESTIC SILVER CORP

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AG trade ideas

Long First Majestic #tradingtheapocalypseFundamentals First Majestic is a primary silver producer (which moves more like a junior). It has historically been heavily shorted, making it a good candidate for outperforming in any precious metals bull market. Arguably, we are in the beginning stages of a precious metals bull market, kicked off by the slowing of Fed rate rises in August 2022. First Majestic sold off heavily on news that they had suspended production at Jerrit Canyon. In fact, this news, while disappointing in the short term, is bullish in the medium term, since it returns the company to be mainly weighted silver, which outperforms gold. It's also bullish in the long term, as once management has made the necessary changes, Jerrit Canyon can come back online and produce gold at a reasonable AISC. AG is trading near its Covid lows, which seems to be to be deeply oversold from a fundamental point of view. The underlying macro thesis is that there will be a flight to precious metals due to weakness in the banking sector, historical price manipulation coming to an end, central bank buying of gold, and many other reasons. #tradingtheapocalypse Technicals Weekly RSI in July 2022 was around as oversold as the Covid lows. Compared to then, weekly RSI has made a regular bullish divergence, signalling a likely end to the high-timeframe downtrend. Daily RSI already made regular bullish divergence on the low before the JC news, and has made even more pronounced bullish divergence since. Price recently reclaimed weekly resistance. This position is a long-term (weeks/months) long trade, entering now, with a stop under the recent low and a final take-profit at the 2021 high. There are many dynamic and horizontal resistances between here and there where one could swing a portion of the trade.
NYSE:AGLong
by SimpleCryptoLife
4
AG | This Has Me Drooling | LONGFirst Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares. The company also holds 100% interests in the La Parrilla Silver Mine that covers an area of 69,478 hectares located in Durango; the Del Toro Silver Mine consisting of 3,815 hectares of mining concessions and 219 hectares of surface rights located in Zacatecas; the San Martin Silver Mine includes 33 mining concessions covering an area of 12,795 hectares located in Jalisco; and the La Guitarra Silver Mine that covers an area of 39,714 hectares located in Mexico. In addition, it holds interest in the Springpole project, a gold and silver project covering an area of approximately 41,913 hectares in Ontario, Canada. The company was formerly known as First Majestic Resource Corp. and changed its name to First Majestic Silver Corp. in November 2006. First Majestic Silver Corp. was incorporated in 1979 and is headquartered in Vancouver, Canada.
NYSE:AGLong
by DivergenceSeeker
4
$AG - Not gonna do wellYeah... Again, this is another stock that's been added to the meme basket. Yes... a Silver Mining/Trading company was added to the Meme stock basket... it didn't make much sense until i saw they added this yesterday and that AG has earnings TOMORROW. The only reason to add things to the meme basket like this is obviously to make meme stocks go down with a helpful push from bad earnings. It doesn't make sense that this stock would drop MORE from where it already is... it really doesn't, but seeing that they added it to the meme basket 1 day before earnings... yeah i'm now convinced AG will have bad earnings and Wallstreet/someone already knows. You don't add successful companies to the meme basket :) TLDR: Get $AG Puts 11-25 days out.
NYSE:AGShort
by leenixusu
First Majestic Silver AG - Rare OpportunityFirst Majestic silver along with the rest of the mining stocks have been pummeled the last few weeks.. or months..er I mean years. It is my strong opinion that a rare opportunity has opened up in many of these stocks - historical. These monthly candles really help depict the birds eye view necessary to spot the larger patterns and trend. AG has been forming a large wedge for many years and broke out a few years ago.. Price is now on the launchpad. It might be a slow rocket getting off the ground but it has a tremendous amount of fuel.
NYSE:AGLong
by gghsusa
14