The Chart Says Buy – Everything Else – Not So Much
So here is a contrarian play for you silver fans. The chart shows massive accumulation and a refusal to breakdown, even though it hasn’t gone up when silver recently rallied, just before this week’s drop.
They are possibly going to be affected by any tariffs and could see all their mines nationalized, so I would never buy this stock, not even with your money. However, I like the set-up and last year at this exact time, it began a rally of almost 100% in 6-7 weeks.
So the play is to buy two month calls. Limited risk for maximum return. (This is not investment advice, just my opinion.)
Notice on the chart,(since the beginning of this year) the relatively tight trading range, the heavy volume and the even tighter MACD. Higher in price from here, but in my mind, only an option play. I want the upside potential without the risk of ownership.