I have purposely not looked at anything having to do with First Majestic’s fundamentals.  This is strictly a daily chart setup for precious metals players who either like or want to trade this stock.  The post is made with the assumption that our proposed ‘silver leads gold in a resumed inflation bounce’ is still in play.

Today AG is trying to break above the 50 day moving averages.  If that holds, the next objective is the red downtrend line.  A reasonable target, if the trade is successful, would be around the SMA 200.

One might want to see if there is any post-Yellen volatility in the sector this week before committing.


Buy Target:  5.00 to 5.15

Sell Target:  5.90 to 6.00

Stop Loss:  As suits risk tolerance below 4.75 (but please, keep it tight; that is very clear support and should not be lost).  A very strict and low risk stop loss could be a drop back below the MA 50’s at 5.00.

A reminder that chart based NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted. They are meant as a starting point for further research if interested. Fundamentals-based ideas are also provided for your further research only. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst.