SLW – Silver Wheaton (Last:35.05)

Silver Wheaton (SLW) price chart with targetsThe 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.