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Firstmajesticsilver

Kinross Gold - 6:1 Long w/ Multiple ConfluencesThe weekly KGC price chart looks juicy for swing traders and position players, or anyone in search of quicker gold-correlated returns than the metal itself offers (+/- 25%). As always, I strive to render these ideas of mine so obviously that their explanation will require no words, and this forecast is no exception. My trading 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. This chart was developed on the 1D frame and the entry was made on the hourly, and is here presented in the 1W version to accentuate the Trend Exhaustion Wedge w/in the Fib Space as fully as possible, albeit w/ some loss of detail. In fact, I generally prefer to trade on lower timeframes, so I execute swing trades like this one directly via my bank, in lieu of a savings account (which is NOT financial advice, by the way). Furthermore, a tighter Stop Loss at $4.71 (instead of the $4.64 shown here) offers a 9:1 Risk-to-Reward ratio. When it comes to most mining stocks, I tend to rely on pure price action based on tight line-work, with a minimum of indicators. Besides the obvious Harmonic W, a variety of patterns are on display here, including a descending Three Drives followed by an ascending version. The profit and retracement targets are passively based on Fibonacci ratios, and dynamically based on the VWAPs anchored at the C-point of the harmonic pattern. A volume profile is also anchored there, although it will become less valuable over time on the 1D chart, and is already invisible on hourly charts. One indicator worth noting, though, is the correlation histogram with First Majestic Silver; the periods of divergence should be especially interesting to lower timeframe prospectors. In fact, especially when I look at mining charts, I prefer to study their correlation either to the underlying asset or, better yet, to some other lesser-correlated asset in the same "genre". I will discuss both Kinross Gold and First Majestic Silver in forthcoming videos and streams on strategic and/or monetary metals. This will give you an opportunity to see what these charts look like on lower timeframes, and to ask questions. Until then, be liquid !!!
NYSE:KGCLong
by TheLeadingIndicator
2
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 !!!
NYSE:AGLong
by TheLeadingIndicator
First Majestic: Room for Maneuver 🤏First Majestic is still wading through the turquoise zone between $12.36 and $6.89 to finish wave 2 in turquoise. To achieve this, the course still has got some room for maneuver – at least until the bottom of the turquoise zone. However, it also might have already completed the current movement, thus continuing the ascent. As soon as that is the case, we expect First Majestic to climb out of the turquoise zone, heading for the resistance at $19.41. There is a 45% chance, though, that the course could drop out of the turquoise zone and slip below the support at $5.30. Should this indeed happen, the share should develop a new low in the form of wave alt.2 in green near $2.91.
TSX:AG
by MarketIntel
AG | This Has Me Drooling | LONGFirst Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares. The company also holds 100% interests in the La Parrilla Silver Mine that covers an area of 69,478 hectares located in Durango; the Del Toro Silver Mine consisting of 3,815 hectares of mining concessions and 219 hectares of surface rights located in Zacatecas; the San Martin Silver Mine includes 33 mining concessions covering an area of 12,795 hectares located in Jalisco; and the La Guitarra Silver Mine that covers an area of 39,714 hectares located in Mexico. In addition, it holds interest in the Springpole project, a gold and silver project covering an area of approximately 41,913 hectares in Ontario, Canada. The company was formerly known as First Majestic Resource Corp. and changed its name to First Majestic Silver Corp. in November 2006. First Majestic Silver Corp. was incorporated in 1979 and is headquartered in Vancouver, Canada.
NYSE:AGLong
by DivergenceSeeker
3
First Majestic: Shy…While First Majestic had actually already made it to the upper edge of the turquoise zone between $6.89 and $12.36, it has shied away and drawn back again until the retracement at 61.80%. Thus, we still give it some time to finish wave 2 in turquoise – although it could also continue the ascent from here. As soon as wave 2 in turquoise is completed, First Majestic should indeed move upwards, heading for the resistance at $19.41. However, there is also a 40% chance that First Majestic could slip through the turquoise zone and drop below the support at $5.30. In that case, it should extend the downwards movement until $2.91.
TSX:AG
by MarketIntel
First Majestic: Refinishing…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 still in the turquoise zone. As soon as the current downwards movement is concluded, though, First Majestic should turn upwards and head for the resistance at $19.41. However, there is a remarkable 45% chance that First Majestic could break through the bottom of the turquoise zone and drop below the support at $5.30, which would then trigger further downwards movement.
TSX:AG
by MarketIntel
First Majestic: Should I Stay Or Should I Go?“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 2 in turquoise a bit deeper in the turquoise zone between $12.36 and $6.89. However, there is also a 45% chance that First Majestic could drop below the support line at $5.30, thus activating further descent.
TSX:AG
by MarketIntel
1
First Majestic: There it is!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, there lurks a 45% chance that First Majestic could fail to turn and could fall through the turquoise zone instead. In that case, it could drop further below the support at $5.30.
TSX:AG
by MarketIntel
2
AG bulls and bears fighting a key priceFirst Majestic (AG) is at a very key point right now. AG is leading the junior silver miners and is giving the sector a glimpse of light for the incoming silver bull run. If AG closes above $14.53, there is a good chance the stock will quickly rise to $17. If we close under $14.53, AG would make a "double-top" and has more chances of falling to $14, and if that breaks as well, then $12.30 is the next large support. AG has a massive short volume so if these shorts are forced to close their positions, the stock will fly. - HH
NYSE:AGLong
by HH_Analysts
1
AG to Fill Gaps and Rise!AG has left a couple of gaps on its way down in the last couple weeks. We believe these gaps need to be filled, therefore we see a rise in AG! Of course every analysis has its own story and ours could play out totally wrong, but we believe the odds are in our favor. Right now, the orange uptrend line is being used as resistance. If the orange line breaks, next target for AG would be $24 and if that breaks then $27. At that point, we will realize our profits. If in the case AG plot twist on our story and decides to go down, then the purple line would be first support, followed by the very large bottom orange line support. - HH
NYSE:AGLong
by HH_Analysts
6