Pan American Silver Corp. (PAAS) surged sharply higher today. Spot silver is up about 1.6% today but PAAS is up more than 10%. Talk about strong relative strength! Let's take a look at the charts and indicators to see if these gains can be sustained and built on in the weeks ahead.
In this daily bar chart of PAAS, below, we can see that prices gapped strongly above the rising 50-day and 200-day moving averages. PAAS is above the January and April highs.
The daily On-Balance-Volume (OBV) line has been steady since November. The Moving Average Convergence Divergence (MACD) oscillator is turning up now to a new outright go long signal.

In this weekly bar chart of PAAS, below, we don't have the current price action included but we can imagine that prices are well above the flattening 40-week moving average line. The price pattern over the past two years might be considered a large triangle or coil pattern.
The weekly OBV line is basically neutral but the MACD oscillator is close to moving above the zero line for a buy signal.
In this Point and Figure chart of PAAS, below, we can see the price rally without the gap. The trade at $17.77 is bullish and opens the way for a potential price target of $21.59.
Bottom line: PAAS has made an upside breakout. Try to go long at $18.00 or better. Risk below $17 and look for gains to $21 for starters.