Gold and Silver Co. Charts Look Entirely Positive, Expert Says
Contributed Opinion

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4. Author Certification and Compensation: [Clive Maund of clivemaund.com] was retained and compensated as an independent contractor by Street Smart to write this article. Mr. Maund is a technical analyst who analyzes historical trading data and he received his UK Technical Analysts’ Diploma in 1989.  The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
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The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be construed as a recommendation or solicitation to buy and sell securities.

Sierra Madre Gold and Silver Ltd. (SM:TSX.V; SMDRF:OTCQX) is on track to be a mid-tier silver producer. 

 While Sierra Madre was recommended a little early from a timing point of view a few months back, we are now up on positions opened then thanks to the rally of the past few days.

Turning to the stock charts for Sierra Madre we see that they look entirely positive, which is hardly surprising given the positive track that the company is on against the background of a rapidly brightening outlook for gold and silver.

The 16-month chart enables us to grasp The big picture of what is going on. On this chart we can see that since the stock started trading (again) in June of last year it has essentially tracked sideways marking out a large Head-and-Shoulders base pattern. This pattern is now believed to be complete and all the signs are that an upside breakout from it is imminent.

In particular, the marked buildup in upside volume in recent days as the price has advanced sharply, that has driven the Accumulation line steeply higher, is a strong sign that an upside breakout from the pattern will probably occur soon with the bullish alignment of moving averages and improving momentum (MACD) supporting this scenario.

The 6-month chart shows recent action in more detail. On it, we can see the point indicated where it was last recommended, which turned out to be a little early as it dipped in August to make the Right Shoulder low.

Nevertheless we are now up on that purchase with the timing looking better to buy or add to positions here as a breakout is in the works!

Sierra Madre is therefore rated an Immediate Strong Buy for all time horizons.

Sierra Madre Gold & Silver's website.

Sierra Madre Gold and Silver Ltd. (SM:TSX.V; SMDRF:OTCQX) closed for trading at CA$0.51, US$0.386905 on September 19, 2024