First Majestic Bigger PictureTrend for the monthly channel on $AG for those with a longer-term perspective this could be the tie to buy...
AG1/N trade ideas
First Majestic 7.7.22Might 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 wanted but did at 7 flat.
Possible short on further fed funds hikes down to $5I 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.
AG - BOOLISHLooking super bull here if we hold this line and pattern.
Chart is pretty self-explanatory. Enjoy!
FIRST MAJESTIC SILVER - PRESSURE BUILDINGThis 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 well positioned for what's unfolding in the metals market. They have their ducks in a row.
If you follow my ideas, then you'll know how I feel about precious metals. I believe we're facing a perfect storm that will propel precious metals & miners to incredible levels. The monetary circus, supply & demand, inflation, gold:silver ratio, and the commodity cycle are just a few of the ingredients in the recipe.
I'm torn about direction. Equities, the dollar, precious metals, and the miners are in a pivotal place. The dollar looks like it's trying to find a bottom. It's possible that the metals, miners, and equities get pushed down hard again.. potentially another crash. Having another crash in equities, metals, miners, etc.. would be my preferred path because I suspect that it wouldn't last long.. Inflation is coming but don't rule out another deflationary hiccup. I like to buy stuff cheap and so I'll be thrilled to have another discount. Watch the dollar. I think we're going to know soon.. and watch First Majestic. It would be incredible to have it tag (E) of this wedge. The measured move of this pattern is somewhere around 39-40 but a move from $4.00 to 40 is a 10x compared to the 2x it is from current prices.
First Majestic Silver Corp - AG | by requestI 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 - January 2016 :
1. Failed breakout; 2. a subsequent selloff (collapse tbh); 3. a little rally; 4. another subsequent selloff - after which point we develop a bottom and then takeoff with a legit and very attractive breakout.
Notice this series of events takes place over roughly 17 months.
Based on where we are today and the 1 - 4 summary provided above, I think it is reasonable to expect some kind of rally in the short term. Will it be the big attractive breakout? I cannot say for sure, but I remain doubtful based on the historical behavior and the "why", which follows:
Now we can start to ask why , based on what we observe in in the economy today:
Kicking off this post, I mention that the evidence is inconclusive at the moment. To me, $AG is not something I would buy or short, but rather I would wait until we see more of a bottom.
Last, the US is raising interest rates, which means that the US Dollar is likely to gain strength (not so bullish for silver - or any precious metal... or any risk asset really). On that note, when the time comes to buy silver, I think you are better suited to buy in the spot market, as opposed to a company that produces silver to sell on the open market. So for right now, the portfolio management question becomes: would you rather own US Debt securities that are paying a guaranteed risk-free rate of return, or would you rather speculate in silver? I personally would not choose to speculate in silver, based on the data we have in this chart.
Take care.
God bless!
First Majestic Geo OutlookOverhead 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 😁
Keep an eye on $AG #SilverAnd let's not forget about $AG in #Silver space.
Still watching this one and continue to be on my secondary watchlist.
AG run?AG (First Majestic Silver) is looking good to us. Gold and the miners have been performing well so far. We see opportunity here. - HH
Miners ready to mineI 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 path.
Don't forget to enjoy your day:)
Disclaimer:
This is my personal journal, not investment advice for anyone.
DCA $AG 3.25.22Dollar cost average First majestic Snr. Breakout
if fails it will come back inside the pattern and continue accumulation.
AG | 9D | Buckle up$AG is looking good for a 45% rally towards target zone. The move will play out over a few months. Enjoy!
Cheers,
Keops
Possible price trend - First Majestic I was playing with TA on First Majestic (AG) and found the possibillity of similar price moves. What do you think?
Silver Under Buying Pressure, Miners are BullishFirst Majestic seems to be moving up nicely, now approaching the gap fill around $11. I am not sure if we will see strong continuation immediately today, but overall I think we should move up this week. I acquired a position last week, but market conditions are looking even better. NFA, DYOR
AGRequested by @RocketFuel20
Not financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
AG We Own Leap Calls On This Silver Name Adding On DipsThis name AG is a PURE Silver play if you think Silver will double take a look if not pass it by - Not Advice
FIRST MAJESTIC SILVER CORP (AG) Watch This Go to Moon In a Year
Hey investors, I'm net long silver miners. With stock market crash already unfolded I believe this is the only place you can put your hard earned money. I'm planning to hold this for a minimum of one year.
Feel free to ask for advice under the comment section
Not a financial advice.
$AGWe now have Support at 10.48 with targeting 11.50, miners patterns allover somewhat mixed, but not yet finished on the long site, keep on turning higher seems at hand, good luck!
Silver prices are going to crash! First Majestic Silver might be signaling big silver crash in price and the next coming depression. Everyone who bought into inflationary assets are going to get hurt IMO. Don't go all in on inflationary assets it's best to diversify because things don't always go the way you think it will. May be at least not in the short term and that can hurt you and might force you emotionally to make wrong choices. Trade safe my friend!
Cycle Low in Silver, Gold? Inflation Hedges Take Off NYSE:AG MCX:SILVER1! AMEX:GDX TVC:GOLD
It takes zooming out at least 20 years to feel good about buying gold or silver, traditional inflation hedges.
It's been a boring asset class since the Federal Reserve began its most recent monetary experiment, but as we all know, the piper will get paid.
Regardless - silver (shown) and gold are hinting at cycle price lows. After breaching a year-long trendline and triggering selling pressure, silver prices held support over the previous major low before forming what now may be a H&S Bottom, as defined by Edwards & Magee (1951).
LB1! AG11.6.21 Lumber AG : Bobby's Homework Assignment >>> should be a good long trade. Talked about changes is the chart pattern ( sometimes occurring early ) that tells you there is a going to be a significant change and that you must consider changing your plan.
