First Majestic Silver (AG) is one of our favorite silver stocks as we have covered it extensively. Our patience is about to be rewarded, because First Majestic Silver is on the verge of a giant breakout. As per our First Majestic Silver stock forecast for 2019 this breakout would send its price 2 to 3 times higher. Indeed, a multi-bagger in the making, that’s what we forecasted several months ago, both in our silver price forecast (SILVER) as well as our silver stocks forecast (SIL).
If this giant breakout materializes it has the potential to qualify as one of the TOP 3 investing opportunities of 2019. In our world these are the type of opportunities that lead to multifold returns in one and the same year. We tipped palladium several months ago as a top 3 investing opportunity. Palladium’s price is trading 30% higher right now and it points to much higher prices to come. We also tipped cannabis stocks, and though not confirmed the sector has very bullish lookings.
Another candidate is silver miners, with First Majestic Silver as our top favorite.
As a reminder, in December we said that First Majestic Silver is about to rally 20 pct which it did.
In 2019 we said that First Majestic Silver is ready for a big move after 20 flat months as well as fireworks in the making in 2019.
Right now, the price of First Majestic Silver trades AT the breakout point. It trades at the cross section of horizontal resistance and diagonal resistance. It is touch #3 of the falling channel that started 30 months ago.
How high can First Majestic Silver rise? Our chart says it can go up 3-fold. And we expect this to happen in a short period of time!