NFTRH+; SSRI ‘Look Ahead’

Silver Standard got bonked on its recent acquisition of Claude Resources, but according to ‘FL’, who long-time subscribers may remember as being an NFTRH subscriber who was also a trusted fundamental mining analyst, the deal could have similarities to the Kirkland Lake/St. Andrews deal that took place earlier this year.  You may recall that KGI.TO dropped hard after the deal was announced.  It has since gone vertical.

Now we have SSRI, Silver Standard, a company that is now more of a gold miner than silver miner, which I like.  According to FL there are some marginal assets and the CEO is unproven.  But they also have a huge portfolio.

As always, NFTRH+ is about the chart so take the above as a brief intro and if interested, do further research.

As for the chart, lateral support is around 5.27, below the EMA 50 and above the SMA 50.  The acquisition deal could drop the stock down to that area as it is digested.  This could come after a bounce from the current level if our update yesterday allowing for a new short-term high for the sector was a good one.

ssri daily chart

The weekly chart is provided for perspective on price, which has flopped along on the floor for the last year.  In other words, it has been establishing an extended base but made no indications of an upturn.

ssri weekly chart

If interested, you might keep this on radar and use the parameters as a ‘look ahead’ on an interesting situation.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. 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. Due diligence is your responsibility.