Silver Miners put in Reversal Candlestick – $AXU $FSM $EXK

$AXU | Alexco Resources Corp. – Technical Analysis Stock Chart

AXR - Alexco Resources Stock Chart - Mar-20-2012

$FSM | Fortuna Silver Mines Inc. – Technical Analysis Stock Chart

FVI - Fortuna Stock Chart - Mar-20-2012

 

$EXR | Endeavour Silver Corp. – Technical Analysis Stock Chart

EDR - Endeavour Stock Chart - Mar-20-2012

 

Having a look over the majority of the silver miners charts has led to the conclusion that these charts all have been oversold for too long.  Slow Stochastic have been signally that it is time for the stocks to bounce back.  In addition, looking at Fortuna Siliver mines in specific, a classic hammer has formed.

These reversals today are at strong support for all three of this charts.

 

Hammer Candlestick example image from StockCharts.com “Hammer candlesticks form when a security moves significantly lower after the open, but rallies to close well above the intraday low. The resulting candlestick looks like a square lollipop with a long stick. If this candlestick forms during an advance, then it is called a Hanging Man.        Source: http://stockcharts.com

 

 

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