WHEATON PRECIOUS METALS update...

originally published Wednesday, March 27, 2019

All Gold & Silver Stocks

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.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.