Stock Chart Analysis PAAS

Posted by downtowntrader | 12/02/2007 09:41:00 PM | 0 comments »

Stock Chart Analysis PAAS

Pan American Silver Corp. (USA) (Public, NASDAQ:PAAS)

The gold bugs index ($HUI) had a break out on the weekly chart in September with several mining stocks hitting multi year highs along with it. Most have been under pressure recently and are in an area where a pullback may be complete. PAAS for instance surged in late October and early November and has since retraced about a third of the rally from top to bottom. It is now oversold and sitting near the previous breakout area which could provide support. Fridays low may end up holding for quite some time.

Good Trading,


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