AG ValueAG Chart looks promising with upside in metals and earnings over time as metals continue to range higher huge trading range to roam in.
NYSE:AG
Trade ideas
AG making SILVER the next GOLDTicker: AG
Key data:
* Market cap: $2.2b
* Dividend yield: 0.25%
Execution metrics:
* Entry: $7.30
* TP: $8.09
* SL: $5.61
Profit paths:
* Buy shares at market open
* Nov8 $7 call
Technical Support:
* Money flow: Positive
* POI: pivot point
* Justification: Closing higher. Failed to break support. Fresh supply to test above
Fundamental Support:
* Analyst 1Y target: $7.25
* Next earnings: Nov 7 2024
* Justification: strong YoY revenue gains, short term and long term assets > liabilities
SILVER SHORT via AG (WORST RUN MINER IN THE GAME) FUNDAMENTAL
- Price of Silver aside, AG is an incredibly poorly run miner. From mass share dilution to disastrous acquisitions I can not think of a more poorly run company. The stock price speaks for itself... sitting near the lows of the year despite silver at recent highs.
SILVER
- Silver has been behaving very weak in relation to Gold. Unless we break out above 31.50-32.50 I see Silver continuing to be range bound at best. There are many reasons for this. Mainly indications from strong correlations that I will not mention (secret sauce).
TECHNICALS
- The price is at a solid supply level (6.20) and has already began dramatic impulses to the downside at any hint of Silver rolling over. In addition we have divergence on the RSI.
DISCLAMER: No Neumeyers were hurt in the making of this post
First Majestic will make a new lowI think first majestic will make a new low before it moves higher. The G2S Indicator is telling that the first majestic is close to bottom or might have bottom.
The reason why it might go lower because of history, it hits the green line of G2S before reversal.
The gravy is always messyHere we go, here we go. Disappointment after disappointment. BUT silver on the way up so it will drag AG to profitability. Watch as the most hated Silver Miner gets some love because it has a nice name to it.
AGThis is the macrochart to show the long-term potential of this stock. It substantiates my rationale to buy and hold. Smaller frame analysis in the updates below.
AG approaching a support zone?AG looks to be back testing break-out and approaching a potential support zone here
First Majestic Silver, bargain hunting soon ?Head and shoulders intermediate top seen, breakout confirmed.
First Majestic Silver No breakout yet, this might be the year for Silver Miners. Falling wedge seen without a confirmation.
FIrst Majestic Silver on important supportFirst Majestic Silver has reached the line linking the lows since 2008 giving a support in the $4.20 area.
We believe the stock is due for a rebound towards at least $6.15, possibly as high as $9.80, as long as the $4.20 area is holding.
A break below $4.20 would open $2.40, potentially even $0.67 which is the all time low.
$AG SHORTAG mining stock been bearish especially dealing with the current harsh economic condition. Its possible we could break this zone and head lower to the $3.60 - $2.54. If it does Im backing up the brinks truck.
Potential Long on AG
AG is currently in a descending wedge with bullish RSI divergence. Wait for a break of upper trendline for entry, stoploss below last swing low. Will be moving SL to BE when safe to do so.
AG for the breakout, big patternCannot resume on a single time frame but in monthly, everithings looks good for big upside, On weekly and daily, you can see bullish divergeance on RSI too
AG 10623Looking like divergence is has formed. Will play out as long as rates and dxy pullback. Looking for 20 percent to the upside and take profits.
Locked and loadedIt is hard to look at this chart and not take a position. I wish I saw it yesterday... We just sprung off major support.. Anyway, maybe we get a pullback, I will jump right in.
Otherwise... I guess I missed out.
First Majestic Silver - Sniper Entries for 9:1 Long TradeSome thoughts that occur to me while updating the First Majestic Silver chart are teased here, which I hope you will challenge with tough questions. These ideas of mine are meant to arouse the reverse-engineers and provoke the thinkers. As always, I strive to render them so obviously as to require no words.
Nevertheless, First Majestic Silver (AG) is such a titan in this niche industry that it makes an excellent leading indicator. As of this writing, price is well below the "Snipers' Range" (Orange channel), which by itself would be a risky signal of imminent collapse; in this case it offers early, low-risk entry points for many and varied Long positions including the 9:1 shown here.
My strategy is built on innate Pattern Recognition and hard-won sympathy for the Market Maker’s Business Model. My tactics - including the beauty of Tradingview and how it makes me look good - are based on identifying the opportunities within VOLUME, VOLATILITY and TREND EXHAUSTION.
Anyways …
Although not shown in this view, the Snipers' Range was established after the low of March 2020, not retested until August 2022, and not overrun until early this year. Above the Red area that contains it, a Blue area indicates a statistically safe "Accumulation Zone" for long-term entries, and this idea takes its final profit at the top of that zone, before price inevitably drops to retest the middle of it.
Furthermore, a target for partial profit taking is suggested, either to de-risk or else to swing out and buy back in. The Stop Loss given is fairly conservative (i.e. wide), and should possibly be moved upward if taking a long position after the Snipers' Range is tested as resistance, and definitely if it is tested as support.
For greater precision, a harmonic pattern is implied, however it must be noted that such patterns are NOT confirmed until the D-point prints, ergo trading the CD leg is especially risky, and requires real-world context not available on the naked chart. If you are enough of a speculator in the metals markets to know the position that First Majestic Silver has in them, then you may have your own reason(s) for suspecting that the price just bottomed.
The Snipers' Range, along with VWAPs anchored to the last Earnings report and to the C-point of the pattern, are a few features from my complete AG chart, which I intend to publish in a more comprehensive video surveying the strategic metals mining sectors. First, though, I have a few more ideas to upload as I update other key charts for the final Quarter of 2023.
Until then, be liquid !!!
Buy Straddle - AG First Majestic SilverBuy Sep-22-23 5.5 Puts @ 0.05 Limit to Open
Buy Sep-22-23 6 Calls @ 0.03 Limit to Open
Bought a straddle, with Fed week and a zone of support and resistance, along with TTM Squeeze showing a potential move, both ways can play out here.
Majestic is acting like 2015-2016First majestic silver has created very simillar conditions as in 2015-2016 move. If we are expecting it to play in the same way, we still could touch 5$, then it looks like 700% move is possible. 35$ on the table. My GSR chart would agree. Silver chart also. Could be huge opportunity right around the corner.
$AG technical analysis, Fib key levels.AG retracing to really low demand zones. The bottom of the downtrend seems to have bullish macd divergences, predicting a bounce as we breakout from long term horizontal downtrends
(Green lines)
Majestic Trade First Majestic Silver - NYSE:AG
- Risk/Reward Ratio 12
- Positive Divergence
- Spring reversal from under ascending triangle
- Green circle is the convergence of 200 DSMA,
POC & break out from falling wedge. A break &
close above $7.10 may be confirmation
You could enter here and place your stop as outlined on the chart and be ok with 20% hit in the event of. Or you wait for the confirmation above the noted levels before entering and place a higher stop.
PUKA
Majestic moveFirst majestic silver has huge leverage to silver. Silver will skyrocket soon. Generational opportunity.
Stay safe
Good luck
