Quick 5% Trade in SLW

Mike took a short-term trade in Silver Wheaton Corp. (SLW) in his model portfolio this week, closing at 23.59 on January 21 for a nearly 5% gain in 1 week.
 
He still holds a position from November 21 at 21.34.
 
Mike writes, "My near- and intermediate-term work indicate that after this brief, healthy pullback runs its course, SLW should initiate a new upleg that projects a target of 26.00, on the way to 28.00 thereafter.  Only a decline that breaks 22.00 will compromise my current outlook."
 
See chart.
 


More Top Calls From Mike

  Matched
x
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!