CDE has broken the short term downtrend on very high volume after touching support.
CDE has been beaten to death recently and is a good value play. Insidering have also been buying.
I picked some up at the support and will be adding to my position on weakness.
silver based on the gold silver ratio is at a discount not seen since the 1990's. the bearish divergence within the ratio indicates
metals traders are be are beginning to flow into or swap gold into silver. since the spread is at an unusual dissonance
silver miners may have an extended exposure to the net flows. cde hits most if not all the check boxes i look for...
Gold to silver ratio is at a 27+yrs high. Within the physical swap ratio bearish divergence has been detected meaning silver is likely to outperform gold on a notional basis. That being said if gold and silver fall together. Gold is likely to fall faster than silver. But when gold and silver rise silver is likely to outperform gold. CDE is one of a few silver...
This is a triangle in progress and this one has taken one year and four months to take shape. The support level around 7.20 has been relevant in the past (without be to precise)
But now why I care is the resistance line in the triangle. This is not a confirmed resistance breakout yet but I shared the idea because other Companies in this same Industry/Sector are...
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.