First Majestic silver along with the rest of the mining stocks have been pummeled the last few weeks.. or months..er I mean years. It is my strong opinion that a rare opportunity has opened up in many of these stocks - historical.
These monthly candles really help depict the birds eye view necessary to spot the larger patterns and trend. AG has been forming a...
Like an artist with their painting, a craftsperson with their handiwork or a cook with their most exquisite dish, First Majestic seems not yet ready to let go of its work in the turquoise zone between $12.36 and $6.89 and apparently wants to add a finishing touch. Thus, it has arched back downwards and could aim for completing wave 2 in turquoise a bit deeper...
First Majestic still remains one of my top picks for a true silver bull market which i believe we are in now. Not my top pick, but a close 3rd from the top. So i am overweight in this one for sure. This is the weekly perspective, the monthly is even more bullish showing a giant ascending triangle. I keep adding on any pullback.
Might be the buy of the year. ive put off buying this one as a long term hold. But i am getting super bullish on this one even though im still bearish on silver short/mid term. I bet on ppl and Keith seems like one of the most genuine influencers ive come across online. I picked up some shares for my long term holdings this am. Didnt get the 6 dollar level i...
“Darling, you’ve got to let me know – should I stay or should I go?”
This song by The Clash seems to be sounding in the background while First Majestic is thinking. As it has already reached the ideal target point for wave 2 in turquoise, the share price could directly go upwards now, rising above the resistance at $19.41. Likewise, it could stay to finish wave...
I expect more downside in miners if perceived hawkishness from the fed is maintained. Soon though, they'll cave and sacrifice the dollar to do what they think will save the markets, which will lead to an explosion in precious metals. These miners will be the ultimate levered trade on the coming fed pivot so be ready to reverse to long.
This is a weekly chart of AG, First Majestic Silver Corp. I like to call this pattern a giant compression wedge - it's just a simple descending triangle. But considering this is on the weekly timeframe, it's a mammoth-sized wedge. I like the pattern but I really like the company. I'll try to focus on the technical analysis, but First Majestic looks incredibly...
I am flattered to have had a request for a chart. Special thank you to @RocketFuel20 🙂
My view of this chart is that the price action is somewhat inconclusive at the moment. That said, we CAN summarize a theme for which there is evidence to believe that this AG is NOT YET ready to buy:
How does the price behave?
Following a top, we observe from August 2014...
There it is! First Majestic actually did it – it has advanced into our turquoise zone between $12.36 and $6.89. Now, things are getting interesting. As First Majestic has reached the middle of the turquoise zone and thus has tapped its ideal target point for wave 2 in turquoise, it could already start to move upwards, crossing the resistance at $19.41. However,...
Overhead resistance is still looming overhead. Ideally, the lower red spiral channel holds and it bounces from roughly 7.77... Worse case price breaks geometry which 5.10 would be in play.
Long Range (5.10-7.77)
Look for 7/11/22 for a potential pivot looking at target levels.
Harmonic Pi as above so below with Giza and Tesla 😁
I expect miners to do well with silver going up, supported by winds from bottoming stock market.
My ideas are mostly based on technical analysis and few fundamentals, but I don't follow specific indicator.
I have some know-how by looking across several indicators. Of course, I might be wrong as well.
Forecasting bottoms and tops, not target levels or price...
