SLW

The good news is that Silver Wheaton appears to have a 15% rally ahead that will be well nigh unstoppable. Push and pull will combine to lift the stock, respectively, via a Hidden Pivot rally target at 40.70, but also via the magnetic attraction of a trendline that has figured prominently in the SLW’s ups and downs for more than a year.  A two-day close above the trendline should suffice to set it on its way toward new all-time highs, but until that happens we should not take for granted that bulls still rule.  The 36.49 midpoint resistance of the pattern shown has already been exceeded by a whopping 89 cents, lending weight, if not quite certitude, to the 40.70 target that sits, as of today, just above the trendline.

Use the 36.760 target of the pattern shown as a minimum upside objective for the near term. You might note as well that a larger pattern, also show, is the first we’ve seen in a while with the potential to push the stock above 40. The actual target, a Hidden Pivot, lies at 40.700, and it would be no worse than an even-odds bet if and when the futures have closed for two consecutive days above its ‘p’ midpoint, at 36.485.