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FWIW. HL compared to AMD (prior to making an absolutely epic run to $165 in 6 years).
I find the daily structures remarkably similar. (HL is currently where AMD was in March of 2016, so if the analog holds up, we might see some sideways to down choppy action over the next few weeks in order to get the momentum indicators to come down a bit–that would also give the 50 dma some time to turn up and catch up to price too. Notice that after a large move and tagging the upper 200 day BB, both AMD and HL corrected huge and scared the crap out of new bulls! Even the months sort of line up!)
Not sure if HL will go to $100+, but AMD managed to go up 20x in about 2.5 years. So maybe HL can get to $60-70. Haha!
Sir Nautilus,
Having seen one of my juniors go up 41x, I wouldn’t be surprised if HL scales these heights.
The bull is still young.
GL
HL:silver ratio has been as high as 1.5 to 0.85 over the last 20 years. If silver was to get to $90-100, a $70 target for HL isn’t outrageous at all IMO.
Also, the HL:silver ratio’s 200 and 600 WMAs are bullishly aligned for the first time in about 30 years. The ratio has been trending down for the last 30 years, but the worm may be about to turn. Make absolutely no mistake though, I will be selling into anything remotely close to a 1.0 ratio.