Free-falling Silver Stock Could Drop Another 18%

Two sell signals confirm a continuation of SLW's downtrend

   
Free-falling Silver Stock Could Drop Another 18%

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%
Click to Enlarge

chart key 300x84 Free falling Silver Stock Could Drop Another 18%


Article printed from InvestorPlace Media, http://investorplace.com/2014/02/trade-day-silver-wheaton-slw/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.