Impact Silver looks to be almost complete a seven year long ABC corrective pattern .
Like many other juniors it is dirt cheap now . Investing in stuff like this requires plenty of patience to buy these bargain basement prices and wait for the market to react . Right now there are so many bargains that just need a higher silver price to send them way higher .
Top: Daily chart of ISVLF since the March low, uptrend is in tact, pennant consolidation has been forming during the pullback in silver
Bottom: Weekly chart of ISVLF giving the context of the current pennant in relation to the approx. 7 year long resistance in the $0.90-$1.00 range.
Conclusion: a breakout to the upside of the current pennant should lead to 7...
With silver likely to surpass its 2016 peak of $21 this year in 2020, some of the overlooked silver junior miners may catch a bid here.
In order to get back to just its 2016 peak, Impact Silver would need to increase 197%.
I think at minimum we will get a 100% move in Impact Silver in 2020, with a less likely upward potential of 275%.
This a miner you want to...
IPT has recovered from tax loss selling a bit earlier then others. It's not as liquid as the major producers, but boy is it torqued up to silver.
One of my favorite swing trade names, this should be on everyone's radar.
Cheers,
Rubber
