SLW – Silver Wheaton (Last:24.54)

Silver Wheaton (SLW) price chart with targetsFriday’s robust thrust pushed the stock past no fewer than three prior peaks, two of them external. This is a very healthy sign, but also a possible set-up for a trading opportunity from the long side.  The chart I’ve reproduced shows that pullback to at least 24.15 would be needed to prime SLW for a follow-through thrust equal in magnitude to Friday’s. Thereafter, using a chart and ABC pattern of 5-minute degree or less, Pivoteers should look to get long at the signaled ‘X’ of the larger pattern. The usual rules would apply from that point forward, including taking a partial profit at ‘p’.  I’ll establish a tracking position for your further guidance if at least two subscribers report in the chat room of having gotten aboard on the terms I’ve outlined.