The disclaimer is that I just bought back SSRM today for portfolio balance reasons (to replace AGI) and I continue on in a hedged manner.
This update shows a still up trending stock on the daily chart and updates the bullish Cup on the weekly. But I think it has more downside before a sustainable recovery is likely.
The daily chart twice found stern resistance at the SMA 50, which is starting to turn down. That is the intermediate trend. The longer-term trend is up as shown by the SMA 200. At a minimum I’d expect SSRM to test the SMA 200, but it is also very capable of filling the gap and hitting support at 13.
The weekly chart, however, is just plain bullish to my eye. But it also shows a handle in the making that can easily tap the 12-13 area (the chart above shows a gap just below 12). That would be an optimal buy area for a trader to re-position. If it’s a must-have, don’t try to get too cute. 13 to 13.50 would represent a big time pullback from the highs.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
