AG LONGI've always been a big fan of precious metals as its a big part of my portfolio (physical and paper). I've been following AG for some time now and its looking like it might be a good opportunity. As you can see in the chart, there was a huge move up after a big sell off. It's also important to track the actual price of silver which for the past 2 days was hovering around $25. Yesterday silver picked up the pace and is now on the move. To some degree, AG does mirror the movement of silver.
Entry: $11.50
1st Target $20
2nd Target $26 (previous ATH in 2011)
FMV trade ideas
First Majestic, the chalice of wealthRegardless of the wall street bets antics, I have been watching this pattern, both the wedge and Adam and Eve bottoming pattern that both project to mid $30 - 40's area.
There is some resistance from the all time highs that may cause short term issues but I believe that the serious momentum and stupidly high short interest (23%!) will get this thing moving.
Been in and out of this stock since $9... but I am here for the moonshot now.
This is the best liquid silver miner with Calls btw.. monthly close today near of above the $20 seriously cements the bullish case.
Possible short term weakness if brokers decide to stop offering calls/ try to manipulate the market so their friends don't get their shorts squeeze. BUT, don't mess with the internet, This will just send it higher in the end eventually.
You can join the cult and go extra long with me by buying bullion from their website, fairly priced and beautiful!
Good luck to all. LFG!
Amen.
First Majestic (AG) possibly going to $19 by end of FebruaryWith Silver on the breakout and inflation expectation having been amplified in the new year, AG is looking to break the current resistance at ~$14.30 as the next stop appears to be the 2016 highs of ~$19. There might be mild resistance and pullback along the way at around ~$16, which, Silver price momentum permitting, should be blown through.