WPM Bullish PotentialWPM has now gained great bullish momentum prior to violating its pennant's resistance. the overall structure is a bearish cypher pattern at a point for an SL hunt swing.
WPM midline support has greatly shown its crucial play as it has been the bullish/bearish indicator of this long-term channel.
Any violation of the pennant within this channel can be the trigger for a swing to the channel resistance labeled as R1.
As gold charted below we have a bullish formation with the potential of a breakout on XAU which can trigger all precious metal companies to make a bullish run.
SII trade ideas
WPM: BREAK OUT OF HUGE WEDGEWheaton Precious Metals Corp ., a mining company, primarily sells precious metals in Canada and internationally.
The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects.
The Russian invasion of Ukraine has brought some tensions in international markets.
With Russia being a major source of raw materials, metals and other commodities, the Russia-Ukraine crisis could affect the supply of these materials to the world and cause major inflation.
WPM seems to be a good hedge against inflation and market volatility for the following months .
Technically WPM is coming out of a huge wedge and could start a strong uptrend. Risk/reward ratio is good because u can place a stop loss below the breakout level.
All levels/resistances are on the chart.
Trade safe.
Wheaton Precious Metals (NYSE: $WPM) Could 👀 Multi-Year UptrendWheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.
Symmetrical TriangleWPM has broken long entry level for the symmetrical triangle. Prior resistance which is now support.
Almost a dark cloud cover candle pattern today so pulling back is part of the market, but looks like this will be an engulfing candle by market close. Both are bearish. Just means a pull back is occurring which is par for the course. Dark cloud cover is a 2 candle patterns consisting of a good size green candle then a food sized red candle that opens over the prior green candle. The red candle must move at least half way down the prior green candle. This is bearish because it points to the fact that the bulls could not hold on to price and the bears pushed them back down. Candles are short term patterns as a rule and need confirmation. They can help you get a snap shot of current psychology in the market.
Candle patterns at tops can be extremely worth looking at as well as at bottoms.
No recommendation
Wheaton Precious Metals 15%-30%+ Potential GainCompany Profile
Sector : Materials
Industry : Metals & Mining
Company Location : Vancouver, BC
Wheaton Precious Metals Corp.(WPM), a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.
12-Month Price Targets :
Mean: $204.00
High: $300.00
Low: $157.00
News :
04:52 PM EST, 12/22/2021 (MT Newswires) -- New Gold(NGD) on Wednesday said it closed the US$300-million sale of a gold stream from the Blackwater project in British Columbia to Wheaton Precious Metals(WPM)
The company sold Wheaton the stream it acquired from Artemis Gold(ARGTF) when it sold Artemis the Blackwater Project in August, 2020.
The gold stream gives Wheaton 8% of the gold produced from Blackwater, dropping to 4% once 280,000 ounces of gold have been delivered.
WPM Long idea with fundamentally and technically supportedWPM Long idea with fundamentally and technically supported
The overall fundamental idea is the demand for materials, commodities, especially GOLD in this monetar-political cycle. As we know: keeping GOLD is good conpensation against inflation.
Technical picture:
RSI <40 means: oversold
This is also suppported with a counter trend break. Also the 36 $ is strong support line.
Entry: 38 $
Stoploss: 34 $
Target: 53 $
RR: 4:1
WPM (Wheaton precious Metals) Cup and handle ContinuationAlthough short term i anticipate that price action falls with Gold/USD struggling with the $1950-$2000 area. Profile damage i believe will not be long lasting. Cup and Handle pattern in play with a continuation breakout of 56.77. I have used Fib retracement levels from the base of Cup to current pull back levels to gauge depth of handle (RSI similarly down-ticking on daily suggesting more short term downside although personally believe to be minimal)
Initial Price Target following Breakout is 76.52 which ties in with previous ATH, and the cup upper and lower boundary range height. Further upside targets anticipated on WPM.
T1= 76.52
R1 = 56.77
S1 = 53.75
S2 = 49.65
S3= 45
WPM: Breakout Confirmed, 16.63% Potential Profit!Description: WPM is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $47.1 - $48.5
2. Take profit: $55.48
3. Stop Loss: $46.07
4. Risk To Reward: 1 / 6
5. Accuracy Rating: 91%
Buy $WPM - NRPicks 14 MarWheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver and palladium minerals. It has agreements for 20 operating mines and 9 development stage projects.
The company reported adjusted earnings of 33 cents per share in the fourth quarter of 2020 final figure that increased 100.6% year-on-year, generated revenue of $ 286M during the reported quarter, up 28.2% year-on-year. This advantage was driven by a 33% increase in the average price equivalent to realized gold.
The company is coming off a 40% decline, setting its price at $ 34, a key area where it has bounced in recent weeks.
- Cash $ 104M in 2020
- Dividend Y / Y + 30%
- LT Debt / eq 0.03
Technical:
Low levels of RSI Oversold
16% below MA50
Support at $ 34