Quick 5% Trade in SLW
by Mike Paulenoff
January 23, 2015 • 7:35 PM EST
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.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
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More Top Calls From Mike
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"Since last November, EW has undergone a sharp correction from 82.55 (11/19/19) to 51.
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