Forget what was said about Wheaton Precious Metals in yesterday’s Market Notebook update
, at least for now, because in the light of our observations today about the immediate outlook for gold
, and thus for silver, and in view of a bearish looking doji star appearing on Wheaton’s chart today after a run of up days that have resulted in it becoming critically overbought, it is considered prudent to book our profits in this as soon after the open tomorrow as possible.
We haven’t made a fortune out of it, because it is a big lumbering stock, but we have done alright as we are up 31% in a little over 3 months, which is alright, having first bought it in December
after a high volume gap breakout.
Wheaton Precious Metals website
Wheaton Precious Metals Corp, WPM, WPM.TSX, closed at $25.11, C$33.69 on 27th March 19.
Posted at 9.15 pm EDT on 27th March 19.