Stock Chart Analysis SLW

Posted by downtowntrader | 8/12/2007 05:43:00 PM | 0 comments »

Stock Chart Analysis SLW

Silver Wheaton Corp. (USA) (Public, NYSE:SLW)

SLW held up extremely well when Silver was correcting, and recently broke to all time highs. I highlighted this stock before the breakout and I am highlighting it again because it may be giving a nice opportunity to get in on the first pullback after breaking out. Here is a daily chart showing the breakout area and the subsequent consolidation pattern. It is pulling back in a pennant type pattern into a rising 50 day sma.

The weekly chart shows the overall pattern quite nicely. If metals rally from here on out, then SLW mayore then likely be one of the leaders for the mining group.

Good Trading,


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