Is this stock going through a "double top pattern" ? I feel like its a good long term hold.
etfsandstuff
⋅
@peterdziewa, PMs are definitely in a larger correction now. They are trying to shake out the weak holders. I wouldnt call it a double top. I see it as a corrective pattern. Either ABC or ABCDE. We are most likely in a wave 4 on most PMs now. I'd hold it here.
etfsandstuff
⋅
@peterdziewa, besides, USA has a ton load of silver in the ground in probably the highest grade deposits in america. If you are bullish on silver, then id keep it.
peterdziewa
⋅
@etfsandstuff, Thank you for that. I am very new to stocks and trading, and mostly in the red. :( I have lots to learn!
etfsandstuff
⋅
@peterdziewa, no problem... losing is part of learning :) Here ive redone some of my supp/res levels and you can see the area around 3.80 is a great support level (and probably a good level to buy. Beware that if this is wave 4 as i suspect then it will be a complex correction most likely that will throw a lot of twists and turns before it resumes trend. It wont be as simple as ive drawn here and may very well exceed the low of today as there is a lot of bearish momentum in play at this time. If we get a close below the channel lines below i might consider getting out.