$CDE is the world's 9th largest silver producer and is breaking a Long Term downtrend from the 2000s with a potential target of around $50
With a beautiful back test to the tread line after breaking out, this along with other silver commodity stocks should be looking very positive
I think either this or $AGQ or $SLV or frankly any silver/gold stocks can be good...
Platinum is breaking out of a 5-6 week bull flag after tagging its 50 day moving average and reversing from major structure. Precious metals seem to be breaking out in general, but I particularly like the pattern in platinum. I am long all three (gold, silver and platinum).
NYSE:CDE is one of the most volatile ideas in the gold mining space. So if enetered correctly it offers relatively quick and attractive rewards.
Currently idea is retesting major support level, through which it broken up in early November. And if uptrend is to continue in this miner, should not go much lower than current spot.
I am entering with idea to hold it...
Yesterday NYSE:CDE broke through bearish flag and is now targeting region at around 4$, based on the symmetry and current chart structure. There it should find strong support, for the move higher.
Potrential trade: Sell short @ 4.60-4.70 region
S top-loss: 4.90
Risk/reward: 2 to 1 or 3 to 1 based on the entries, which is reasonable.
CDE is a great buy here as the stock has broken out of a 8 year down trend starting in 2011. CDE has lagged other silver miners slightly during these recent silver breakout ().
They are optimizing recovery and costs at current claims and have a great deal of exploration and potential for new...
CDE has ended the steady and rather drawnout counter trend phase since mid-2016 with the break above ~9.05. A strong upmove towards minimally 11.75 (1st projection) is extremely likely. Secondary targets come in at 14.30 (3-4 months) while the long-term forecasts suggest levels well above 17.50 (12-months+). Maintain initial stops below 8.25.
Covered Call Metrics:
Buy 100 shares stock at 13.68
Sell Oct 21st 14 call
Whole Package: 12.36 db
Max Profit: $164 (if called away at $14)
Sell Oct 21st 12 put
Probability of Profit: 71%
Max Profit: $70 (if filled at the mid price)
Max Loss: $1140 (if you do nothing and stock goes to $0 by expiration)
Notes: The short put play would be...