A short term downtrend has been broken and there are several indications to buy. Volume has been increasing, MACD is showing it is about to cross, Stoch RSI is showing that the stock is not trading at an overbought level, and it is trading just above the 20 Day Moving Average which has been acting as a line of support/value for the past few months. Also with the recent rally of silver, this stock will climb even higher with its large silver mining projects in Peru having an estimated 290 million ounces in reserves.
I like the structure of the consolidations after each move up. Very familiar and dependable.
juniortrader
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I agree, that is one of the reasons I really like this trade. It continues to break away from the 20 Day and then comes back to it using it as a support.
juniortrader
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I agree, that is one of the reasons I really like this trade. It continues to break away from the 20 Day and then comes back to it using it as a support.
juniortrader
⋅
I agree, that is one of the reasons I really like this trade. It continues to break away from the 20 Day and then comes back to it using it as a support.
juniortrader
⋅
I agree, that is one of the reasons I really like this trade. It continues to break away from the 20 Day and then comes back to it using it as a support.