FSM trade ideas
[Long] FSMEarlier I posted a breakout in Silver, here is a silver miner.
A little inverse H&S showing up on today's action. It seems a little fast for a holiday week. I expect some consolidation that might give a chance to add.
This one moves really fast when it wants to (gray rectangle).
LONG FSMExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
fortunasilver kinda sneaky and gold/silv ratio still dropping so it is stronger than gold. big fib retrace to support. could buy with stop
LONG FSMExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Fortuna Silver Mines could be near reversalMMHVW - what do I see Modified Schiff Fork with previous bounce off the lower parallel and 0.618 lines. Also a potential shark pattern with C leg forming and then a descending wedge. Base on these I’m thinking price could reverse soon and change direction. Could be a long shot but for a financially stable gold/silver miner, which is significantly underpriced, is not bad. Obviously there are risks but no risks no rewards.
Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina. The company was formerly known as Fortuna Ventures Inc. and changed its name to Fortuna Silver Mines Inc. in June 2005.
Buona Fortuna!One of the silver/gold miners I follow with a nice pullback to the .5 fib. I will be watching this (and gold and silver prices) over the next few days. Anything near 3.50 is a buy with tight stops IMO. If it goes lower than 3.50 it may retest 3.11 support. Target is 6 dollars for now.
Good Luck (Buona Fortuna!)
[Long] FSM long termThe long term chart of Silver appears to be firming up and possibly breaking out as of today:
If so, the chart of Fortuna Silver can return to the highs. We can see that the "small" pop to $20 silver in 2016 sent FSM to its highs, almost ten dollars.
If the bull market is back and silver surpasses its 2016 highs, who knows how high FSM can go?
There are many ways to play this. I am long the Jan 2020 $3 strike call at 55 cents. Small position, prepared to add more on a pullback in precious metals.
Double Bottom Reversal PatternI haven't posted any ideas recently but I have been following TSX:FVI for some time now. Double Bottom Reversal is now in play.
What do you guys think?
FSM: Long opportunityAn intraday high potential, Back Tested Long Analysis.
We ll try to enter into the correction of the downtrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Long FSM on daily reversal from extremely oversold levelsOne of the best gold/silver stocks based on fundamentals just made a reversal on critical support. Very underpriced stock, trading below book value. Stock is extremely oversold both on weekly and daily based on Williams%R oscilator and just made bullish daily reversal (big marubozu candlestick) on support.
FSM fortuna silver mines in accumulation?I see 2 possibilitys here either fortuna is under a accumulation or redistribution i know this may seem like a redistribution theres a chance this was a terminal shakeout if we creep up back into the prior tradingrange that would be utterly bullish. This stock seems to be in weak hands hence the possibility for a shakeout.
Whether direction it goes we should be prepard for both !
Incase its in redistribution it could drop 50%
Incase its accumulation it has a upside potential of a whopping 80%
Bet on Smart MoneyFSM seems reaching at a level where it couldn't make higher. However, Since June, FSM's volume are increased significantly. It indicates that some Momentum traders accumulated around here(6.00-6.20). This is a good bet to move higher with the smart money.
wich one will hold its clear to me that only one of these will hold and it wont take that long to see what happens
FSM, bullish backtest of 50ma and breakoutWith silver still coiling in its base, I still see an explosive rally possible in the future. Patience is still required but the last few months have not been all that difficult. Silver seems well supported in this area.
My other silver miners have done well, like PAAS.
By breaking below support, Gold has also dropped to ICL levels from which it should rally. Considering how strong the USDollar is, Gold & Silver have held up well, and especially mining companies have done extremely well considering. The next cycle should be very bullish.
Today, I notice FSM has come down to test its long term breakout, and 50ma level. This is an attractive buy point in what I think is a very early bull market. Entered a small position today, will consider adding later.
