This ETF recently rose above its 50-day Moving Average, a possible bullish indicator. Four analysts have increased their earnings forecasts for the ETF in the past 30 days.
Silver Wheaton Corp. (SLW)
From Gold & Silver Stock Report
In light of the immediate-term bottoming attempt in the XAU index, I’m recommending that speculators put their toes back into the water. A caveat is in order here: the overall precious metals market is still subject to some potentially negative cross-currents; therefore only small commitments are advisable at this time. Selectivity and the judicious use of stop-loss orders are of necessity on all new trading positions in the current market climate.
One of the actively traded blue chip mining stocks which boasts of relative strength right now is Silver Wheaton Corp. (SLW). Silver Wheaton has established a series of higher lows since bottoming in September. By contrast, the XAU and HUI have only managed a lateral, or double, low. This relative strength in SLW belies a measure of forward momentum which is currently lacking in many of the senior and mid-tier mining shares which comprise the XAU index.
SLW has also recently closed more than two days higher above its 15-day moving average to confirm an immediate-term breakout signal per the rules of our trading discipline. Accordingly, speculators can purchase a small position in SLW here using the 12.10 level (which is slightly under the pivotal Nov. 18 low) as the initial stop loss on an intraday basis.
Cliff Droke, Gold & Silver Stock Report, www.cliffdroke.com, 707-282-5594, December 1, 2015