Strong buy... Silver equivalent sales up circa 25% the decline in earnings has bottomed and FRES is now coming out the other side with the potential of some serious cash accruals.
When a diagonal pattern completes, it can retrace the entire move in between a third of the time and half of the time it took to form.
Let's see if this happens...
As long as the price doesn't go lower than the £420–£415 level, then the ending diagnal pattern looks on. However, if the price breaks below that level, then another pattern could be playing out.
looks like it’s either completed an Ending Diagonal in a 5th wave or it needs one more move down for its completion.
Either way, with the massive negative divergence shown in the RSI, it looks ready for a big move up.
The major Elliot Wave pattern suggests price will reach all time highs in the next gold bull market / cycle. I believe it is due and Fresnillo has probably bottomed.
There is a chance we could continue to have a few more weeks of weakness in Gold and Silver prices which is likely to send Fresnillo a little lower first but I think we are close enough to a bottom...
The Fresnillo-bears can announce a first success: Finally, the share has arrived at the support at GBP 610! Next, our furry friends should push Fresnillo below this mark to gather further downward momentum. Then, the share should also pass the support at GBP 456.60 to develop wave C in turquoise. However, there still remains a 20% chance that Fresnillo could...
Introduction
This concise analysis examines the silver chart, highlighting the significance of a key support line and the presence of a falling wedge pattern. These technical indicators provide insights into potential price movements and suggest a possible bullish outlook for silver.
Key Line of Support
The silver chart reveals a well-defined line of support...
Has Fresnillo gotten lost, hunting for Easter eggs? We don’t think so! We rather understand the share to be swerving, interspersing its way with a little counter movement. Soon, the course should return to the main path and fall below both the supports at GBP 610 and GBP 456.60 to continue the descent. However, a 30% chance remains for Fresnillo to make a more...
Since the end of wave B in turquoise, Fresnillo has been continually getting down for business. And the share should keep going as we expect it to march below both the supports at GBP 610 and at GBP 456.60. There is a 35% chance, though, that the course could turn upwards and climb above the resistance at GBP 997 instead. In that case, Fresnillo should enter the...
It's amazing what looking on a larger time frame does, my long FRES position looks like a bad idea, and almost a mirror of what happened not so long ago. A brief bounce off of 800p and a big sell of after. Of course nothing is certain, but I'm revising my exit strategy so to speak (hopefully 860). NOT FINANCIAL ADVICE!!!
Despite a high P/E this is a good pullback on an ascending channel, with MACD and RSI confirming the long buy. I have purchased at 8.27, 1hr puts most recent swing low in at a tight 8.17, lets see if I can sell at 9.17.
Fresnillo is back to being reasonable and – in accordance with our expectations – has moved downwards again. Now, it should keep up this drive to make it below the support at GBP 456.60 and thus into the turquoise zone between GBP 473.60 and GBP 250.00, where it should finish wave (2) in yellow. There is a 35% chance, though, that Fresnillo could escape above the...
Bulls and bears are currently both angling for Fresnillo’s attention. We still expect the bears to win, though. They should grab Fresnillo and take it below the support at GBP 456.60, pulling it into the turquoise zone between GBP 473.60 and GBP 250 to finish wave v in magenta as well as wave Z in turquoise and wave (2) in yellow. However, there is indeed a 32%...
Good Day - hope everyone is doing well, and welcome to a brief case study of an Trade Idea we shared with VIP Members earlier this year, and executed for our Fund.
Without repeating what's above - it's clear that the market will give Retail Traders a 'Judas Goat', to induce false positions, early sells and generally spread a feeling of fear & anxiety, clouding...
Long term idea
Purely technical
Weekly order block refind down to a daily order block
Wyckoff accumulation condirmed. Wait for a pull back to enter.
Partial out position on way up
*Just an idea I MAY trade - I do not give out any financial advice*
Since May FRES has been descending in a fairly well defined channel. I anticipate this to continue dropping beyond earnings report on 3 Aug. Furthermore, share price is not testing the upper Bollinger Band and hardly testnig the mid line. My target for entry or top up is sub 700p where it will be exceptional value. From that level expect a long and protracted rise...
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
