SLW, PAAS, SLV, EGO. Two silver stocks, the silver ETF, and a gold stock.
This is not a recommendation to buy or sell these stocks. Due diligence is your responsibility. If you need professional investment advice then find a professional.
SLW has been presented over the last couple of weeks as an example of a stock turning "friendly". Not so bad so far, but a bit of a drop today. This drop was after bumping into overhead resistance around 7.00. Watching now to see if it will hold around 6.00. There is a tangle of the moving averages under the price and this can be used as an area of possible support. The thick blue line is around 5.60 and can be used as a point to re-evaluate the situation.
The other three charts show pretty much the same pattern as SLW. These are included to show the importance of looking at stocks in the same industries. Even though EGO is a gold stock the small spinning candle from yesterday is a clue that maybe things may not be as rosy as expected.
A small hint that perhaps it is time for a pause.
The plan is to keep an eye on all four of these stocks and see if they hold above the moving averages over the next few days. Will wait and see how it all unfolds.
Thank you for your time.
Charts courtesy of Wealth-lab.com.
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