Wednesday, May 5, 2010

Stillwater Mining (SWC) Chart Analysis


SWC is considered the best palladium play, above is its 2 year weekly chart (click to enlarge).

I spot two ascending triangles.  The first one was broken in late 2009, the second one was broken in March.  Drop on May 5th is clearly a return to breakout, as stock managed to close right at breakout level of $14.5.  Expect upward movement to $20 level in near term.

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