AG trade ideas
AG - Great Pure Silver PlayFirst Majestic is a top notch pure-silver miner from what I’ve read. I spent last year and much of this year accumulating it in the $5-7 range shaving off a little profit here and there. Very pleased with the recent run but I think this has a lot more to go due to silver’s potential and it being a well-managed company.
This is one of the healthiest miner charts I’ve kept an eye on. Notice the subtle landing on the fast EMA that provided two more entries followed by the push to the 21 EMA that provided two more. Now that silver got out of the gate and is taking a breather, this one has made a healthy test of the 50 SMA.
Plan:
Need a close above the 50 SMA, upward cross of the 9 EMA on the RSI mid line (levels set to 50 instead of 80/20) for a signal. Confirmation will be price exceeding signal close. Since this is a retest of a longer MA I might open with half a position and add the other half when price exceeds the last high of $11.32. Stop loss will be 1.5x ATR.
Not financial advice. Will update when active.
AG weekly bullflag setup on MondayWatching AG for a breakout on the weekly chart. Ideally want to see 2mill volume in the first hour to allow us to disregard hourly overbought rsi to some degree until closer to the upper 70s. Lack of resistance in this area because of the significance of the dump years ago. Be aware of overbought weekly chart and extended monthly chart.
FIRST MAJESTIC RALLIES WITH PRECIOUS METALS. =====SHORT TERM TARGET $12.50=======
BREAKOUT LEVEL $11.00
BELOW MA34 IS A SHORT.
First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including La Encantada Silver Mine; La Parrilla Silver Mine; San Martin Silver Mine; Del Toro Silver Mine; Santa Elena Silver & Gold Mine; and San Dimas Silver & Gold Mine. The company was founded by Keith Neumeyer on September 26, 1979 and is headquartered in Vancouver, Canada.
FIRST MAJESTIC SILVER CORP 1D CBOE BZXSnapshot of 50MA and 200MA relationship on 1 Day AG (silver miner) chart.
Possible hold on the bull runWe must watch the lower yellow zone of the white upward channel and see if that holds. The RSI is diverging which tells me we might be starting a correction, but if we bounce and the RSI can break to new highs, we could continue onto the $13 range before a major correction.
I'm out for now to see what happens.
Potential 10:1 (reward: risk) - swing trade, looking at price action for entry.
- broke resistance now retesting demand zone.
FIRST MAJESTIC SILVER the miner I likeFirst Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico.
Earnings growth is expected to exceed the low risk savings rate of 2.7%.
level of debt (20.2%) compared to net worth is satisfactory (less than 40%).
First Majestic Silver Corp Bullish Potential.The top silver stock has aggressively broken above a +2 year bearish Channel Down on 1W (RSI = 79.546) and showcases significant long term bullish potential. If a new Channel Up emerges on 1W then the Buy Zone is within 7.00 - 8.00. If the 1W Resistance break out aggressively then again the bullish potential will be even stronger. In both cases we will be going long.
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$AG FIRST MAJESTIC SILVER IN BREAKOUT BUT NEEDS A RESET, BULLISHSilver is playing catch up to the Gold breakout but that provides a opportunity to diversify, its is suggested that silver could rally a further 30% so NYSE:AG is in a good position to benefit. Currently in phase 1 of a breakout and earnings approaching we would suggest that a reset is needed
before breaking next resistance at $10.40.
AVERAGE ANALYSTS PRICE TARGET $7.83
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
COMPANY PROFILE
First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including La Encantada Silver Mine; La Parrilla Silver Mine; San Martin Silver Mine; Del Toro Silver Mine; Santa Elena Silver & Gold Mine; and San Dimas Silver & Gold Mine. The company was founded by Keith Neumeyer on September 26, 1979 and is headquartered in Vancouver, Canada.
AG (silver mining) forming a bottomFirst Majestic forming a bottom, looking for a wave 3 to hit the first box then a wave 5 to hit the second box.
First Majestic - Long channelCurrent uncertainty regarding economic strength (recession fears) and central bank action - the precious metal sector should benefit.
First Majestic has been channeling for quite a while though it's poked its head through psychological 6.00 level recently. The hope in the next few months is to break out of the identified channel where it could meet resistance at the 6.40 and then perhaps 8.00 level.
Buy the bounceBuy the recent weakness in PMs. A bounce here means a successful retest of Aug 16 TL and inv H&S neckline. 21DEMA is flat and a close below those levels will start to point it down so neckline's my SL. Might even flip to short if it falls convincingly back into the prior downward wedge.
AG: One of the most well known silver miners, AG has printed ahuge 1-2, 1-2. With a wave 3 target between $37-$44, this would be a 5-7 bagger at present price.
AG | 9D | FULL GANN SQR SETUPHere is a Full Gann Square applied on |AG| if |silver| performance in Jan 2019 will be good then this setup could be valid.
Cheers,
Keops
Somethings up with Silver. (AG)If AG holds above 8 it could easily make to 9 or 10. Will buy on a break and retest and hold of 8 with a stop around 7.50.
AG First Majestic Silver Corp, Down before up?Keep it simple.
I drew a yellow brick road to the next target zone. This is a 2 to 3 month play.
We have sell signals, no buy signals, with momentum even still bearish.
I dont want AG to drop to here, but I just read charts and drop emotions.
Were at the top of the wedge, with the Ichimoku turning bearish.
The bottom of the wedge is a long term support line and great value area.
Happy Trading, debating and speculating.
Check my other charts as well!
