Silver Wheaton (SLW) — This mining company generates its revenue primarily from the sale of silver. The price of silver bullion has been declining since early in 2012, and SLW’s price has been in a freefall since October 2012, with no relief in sight.
On Jan. 24, SLW failed to hold above its 200-day moving average and triggered a sell signal from my proprietary internal technical indicator, the Collins-Bollinger Reversal (CBR), and on Monday, MACD issued a sell signal. This confirms a continuation of the firmly established downtrend.
Sell SLW at the market with a downside target of $17.80 to $18.