Pan American Silver Ready to Shine

 | Feb 06, 2017 | 3:12 PM EST
  • Comment
  • Print Print
  • Print
Stock quotes in this article:


Pan American Silver (PAAS) is set to make a major upside breakout. Ignoring a strong U.S. dollar, PAAS has firmed up in recent weeks to be in a position to break out above its August zenith.

PAAS is above the rising 50-day and the rising 200-day moving average line. The daily On-Balance-Volume (OBV) line is has steady or sideways for the past six months even when the price of PAAS decline from $21 to $14. This basically tells me that the longs stayed with their positions. 

The Moving Average Convergence Divergence (MACD) oscillator is in a bullish configuration above the zero line and is a strong vote for a successful breakout.

In this weekly chart of PAAS, above, we needed to go back to 2012 to see where prices could be headed and how important the $22 level was. Prices are above the rising 40-week moving average line. The weekly OBV line is pointing up suggesting that buyers of PAAS have turned aggressive again. In the lower panel is the weekly MACD oscillator which just signaled a new outright go long buy. The $27-$28 area looks like a logical next objective for PAAS.

This long-term Point-and-Figure chart, above, shows that a move to $21.90 is very bullish and give us an initial upside price target of $27.

Columnist Conversations

If you are watching yields hover around 3%, best also keep an eye on oil prices. This nugget from Deutsche Ban...
All the chip rout is doing is lowering expectations on Apple into an earnings call that could reveal how the c...
Apple (AAPL) has no long term signals here at this time AAPL is testing our long term bounce zone @ 166.87-16...
View Chart »  View in New Window »



News Breaks

Powered by
Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.