Silver Likely to See a Pullback Near-TermSilver has seen an unexpected rally to most and continues to show strength as holdings of silver-backed ETFs reach all-time highs. Since posting "Potential Inflection in SLV: Price Action and Options," (under CommoditiesTrader) SLV is up almost 22 percent.
However, near-term there will be a correction to work off the overbought conditions.
The RSI was quite elevated at 77, while the z-score hit a near-term high of 2.9
The +/-DMI is showing that price action still remains positive but the ADX is beginning to tick lower.
The stochastic indicator is currently over bought at 87.51/93.26
Of course, precious metals will move with headlines. Given the sharp two-day decline, the SLV looks promising between $15.90 and $15.60. If traders sell through the secondary uptrend near $15.60, we could see further selling to $15.
It's important to remember the risk is dynamic. Traders will flock to the safe-haven aspect of silver if more troubling news surface about European banks, Brexit and, simply, slowing growth.
A correction will only be healthy going forward. The weekly chart shows at $17 is a tough nut to crack - only seeing one close above this level since January '15.
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DSKX Begins To Rally After The Conference CallShares of DSKX continues to rally from last week after they held a conference call to discuss the recently announced agreement to acquire Radiancy, Inc., a leading developer of consumer medical devices and the Neova® dermatological products.
It appears investors are beginning to notice the financial value this new deal brings and the future outlook of the company, so if you haven't already, I highly encourage you to listen to today's conference call as soon as possible. Much larger company structure overall, significant increase in revenue, assets, cash flow and working capital with a very reputable management team to move the company forward. The fact that the current market cap is only 33M is what really gets me excited. Listen to the call to learn more:
The replay of the conference call can be heard by dialing 1-888-286-8010 in the United States and Canada or +1-617-801-6888 internationally, then referencing the Conference Passcode "56187013" A recording of the call can also be heard on the company website.
In the call, the DS Healthcare Group management team shared their motivations and answered questions relating to the business fundamentals on the Radiancy & Neova® deal, explaining how natural strategy alignment and synergies will lead to significant bottom line contribution.
The call was hosted by Mark Brockelman (CFO), Manny Gonzeles (CCO) and Renee Barch-Niles (CEO) and took place on Thursday, February 25th, 2016, at 8:30 a.m. EST.
-Renee Barch-Niles (CEO), an experienced CPG Executive who drove double-digit year-over-year growth in global food, drug, mass, club and specialty channels for Global companies such as Daymon Worldwide and Emilia Personal Care.
-Mark Brockelman (CFO) who has great experience in mergers and acquisitions, systems integration expertise and highly astute financial acumen. Mr. Brockelman Brockelman served as the Chief Financial Officer for National Dentex Corporation as well as the Senior Vice President/Chief Financial and Administrative Officer of the Miami Dolphins.
-Manny Gonzalez (CCO), a former top (NASDAQ: PG) Procter & Gamble executive managing a team of 7,000 sales representatives in the U.S., who has direct access to every major retailer in the country.
Acquisition Press Release Below:
finance.yahoo.com
For full disclose please visit: www.stockpicksnyc.com
Silver Ready to Sky Rocket I have been adding to my silver position for months and months along this most recent bottom. At this point, silver seems like it has been beaten down to it's absolute bottom. It is currently sitting along the .764 fib level, which also happens to be the bottom of the donchian channels. The RSI is as oversold as it was at the beginning of the '08 bubble. Bullish divergence on the MACD also suggests momentum is changing.
As far as fundamentals, we have an increasing risk of hot war, an extreme bubble in bonds, stocks, and real estate, gold and silver look to be an amazing buy.
Please also see my S&P500 chart as a follow up to this idea.