TSX:PAA – Pan American Silver Looking Interersting

PAA

On a weekly chart, TSX:PAA can be seen to be forming a big 2-2-2 pattern as the embedded image to this post shows. IF in fact we have now formed point C, then some simple math says that leg AD will be something in the order of 0.618 XA. This projects a point D at the $29 level. But, remember, it has taken a long time to form this pattern so far. This stock is not going to surge to $29 overnight from here. In terms of trade risk – the risk from here is that we have not yet properly formed our point C. Technically, point C can be as low as point A which is the $14 level.

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