Wednesday, September 26, 2012

Silver Wheaton - $SLW - WOW!

The chart of #SilverWheaton, ticker $SLW, 5yr weekly shown below shows an absolutely outstanding flag pattern.

Delightful impulsive break out move through the upper band earlier this month on volume and now we wait. I am waiting on:

1) a re-test of the top of the flag (upper blue line) which would represent an entry point for those that missed the break out and 2) a move though the recent high of and

2) a break out thought the recent high just above 40 which is also the prior resistance lower high from the move down in early 2011.

For those wishing a longer term view of this gem, have a peek a the 10yr monthly below.

1 comment:

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