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Watch for Silver Wheaton to Potentially Pullback After Gaining 3.02% Yesterday

By Nick Russo

Silver Wheaton (NYSE:SLW) traded in a range yesterday that spanned from a low of $23.20 to a high of $23.89. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $23.65 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Silver Wheaton have traded between a low of $10.04 and a high of $31.35 and are now at $23.81, which is 137% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.7%.

SmarTrend is monitoring the recent change of momentum in Silver Wheaton. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Silver Wheaton in search of a potential trend change.

Keywords: rebounders silver wheaton

Ticker(s): SLW