A silver stock rated a strong buy
Clive Maund conducts a technical analysis on a silver company and finds it is at a good entry point.
There are a number of precious metals stocks that are looking promising here, with one of them being Silver Bull Resources Inc. (SVB:TSX; SVBL:NYSE.MKT).
Silver Bull looks very attractive. After a long bear market from early 2011, it has been basing since 2015, and its volume pattern is positive and its volume indicators are very strong indeed. Good entry point here, with it not far above its rising 50-day moving average after a correction unwound an earlier overbought condition. This is especially the case given that silver's latest COTs look very bullish indeed. Rated a strong buy here.
Silver especially looks like it is going to have a good year.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
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Chart provided by the author.
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.