Loading ...Fortuna Silver
I’ve mentioned in several comments recently that I think the silver miners are either now or in the near future set up with a good risk-reward potential, mainly due to silver’s under-performance relative to the rest of the industrial metals (which maybe is due to it’s dual role as precious metal with industrial uses). Anyway, a number of the silver miners look to have promising setups (eg MAG.TO, EXN.TO), but I really like this one and thought I would share it. The supporting general direction of moves in commodities and the USD make this even more compelling for me, along with the fact that they weren’t excessively punished for their financials last week (not that they were bad, just that reporting financials has been a great reason to beat down silver miners recently).
Looks like a coiled spring 😉
Yeah,it does to me. Normally I’d be expecting a nasty capitulation move here to really demoralize shareholders, but given that this may have already happened in the bigger players (HL, CDE, PAAS) that last drop mid-last week to 5.13 might have been it, or maybe we drift into the apex around 5.10. Either way a great setup – a real break down would be a great short as much as a break up will be to hold long (although at the moment I’m favoring the long scenario).