123Tom's TA study group

[123tom]

A look at Silvercorp chart

SVM has had for a few years now, its eye on a range bottom zone around 2 dollars. Bottoming at 2.12 area, I like the sound of a 1 dollar move, from the most recent major peak at 3.12 to the target at 2.12 area. I like 2.10 step and 2.00 for one time at least. Below that is tricky because the 1.85/1.75 area were old pivots and a shoulder peaked at 1.93 way back when. and I remember that 1.93 peak was the finish for the first giant rally from the 40 cent Bottom. It started from 40 cents and kept surging and surging. there was a station at 76 cents at the time that offered a chance to buy more. and it didn't stop until the 2.40 area, that was excessive, but the bottom zone became established over time as the 2 dollar area now. SVM had found finish tops at 4.40 area and now its finally retesting the 2 dollar bottom zone. I didn't want to buy the intermediate pull backs at 2.50 area in recent years. Ive been waiting for 2 dollar target zone. BUT, neither did I think spot silver would fall again to test 14 dollars. Silvercorp is a base metal miner that includes silver,so its less sensitive to silver price than are the 'pure silver miners'.
SVM bottom fishing.

In watching miners bargains now, its a guessing game between wondering where the Bottom will be for each miner versus the timing of season year end pattern, where previous years bottomed closer to December and January. I like that end of year pattern, but at the same time, some of the miners might be reaching bottom zones now. or soon.