Free-falling Silver Stock Could Drop Another 18%

Two sell signals confirm a continuation of SLW's downtrend


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.

02 05 14 slw 300x194 Free falling Silver Stock Could Drop Another 18%
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chart key 300x84 Free falling Silver Stock Could Drop Another 18%

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