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Silver Wheaton Corp. Message Board

  • andrewfriedman101 andrewfriedman101 Apr 21, 2011 3:04 PM Flag

    SLW going to 80 a share

    SLW is forming a perfect base to launch another run up. From February to August of 2010 we saw SLW double from 20 dollars to 40 dollars. During that time frame we saw a very specific three part chart pattern. A cup with handle, then a sideways basing move and then a move up. (on the daily charts)

    Today we see the exact same chart patterns with strong volume. SLW is in the basing phase of the multi-part chart pater and is about to take off on the move up. SLW should complete the pattern around 80.00 dollars a share.

    When you look at the basic technicals, we have higher highs and higher lows. We have a huge volume increase that started on the 24 of Feb. In fact the most recent low around 39.95 shows volume coming in and stopping the down move. Small investors can't do that. That was participation by investment managers.

    Investment funds are buying into this stock. Small players are leaving in droves. If the funds were leaving this stocks would be dropping, but it not. We have higher highs and higher lows.

    In a nut shell: The trend it up, volume is up, higher highs and higher lows, good fundamentals on a stock in a great industry, with a great price pattern that we have seen before.

    SLW is an 80 dollar stock.

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26.82+0.26(+0.98%)Aug 29 4:00 PMEDT