Silver Wheaton Corp. Can’t Burn Your Portfolio. Has Another Gap Up

 Silver Wheaton Corp. Can't Burn Your Portfolio. Has Another Gap Up

The stock of Silver Wheaton Corp. (TSE:SLW) gapped up by $0.44 today and has $44.96 target or 36.00% above today’s $33.06 share price. The 7 months technical chart setup indicates low risk for the $15.03B company. The gap was reported on Nov, 1 by Barchart.com. If the $44.96 price target is reached, the company will be worth $5.41B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 714,499 shares traded hands. Silver Wheaton Corp. (TSE:SLW) has risen 42.38% since March 28, 2016 and is uptrending. It has outperformed by 39.37% the S&P500.

Silver Wheaton Corp. (TSE:SLW) Ratings Coverage

Out of 3 analysts covering Silver Wheaton Corp. (TSE:SLW), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $45 is the highest target while $19 is the lowest. The $31.50 average target is -4.72% below today’s ($33.06) stock price. Silver Wheaton Corp. has been the topic of 12 analyst reports since August 13, 2015 according to StockzIntelligence Inc. JP Morgan initiated the stock with “Overweight” rating in Thursday, February 4 report.

More notable recent Silver Wheaton Corp. (TSE:SLW) news were published by: Seekingalpha.com which released: “Continue To Stay Away From Silver Wheaton” on November 01, 2016, also Fool.com with their article: “When Will Silver Wheaton Corp. Split Its Stock?” published on October 26, 2016, Fool.com published: “Better Buy: Silver Wheaton Corp. vs. Barrick Gold Corp.” on September 27, 2016. More interesting news about Silver Wheaton Corp. (TSE:SLW) were released by: Seekingalpha.com and their article: “Silver Wheaton: Looks Like We Were Wrong” published on October 28, 2016 as well as Fool.com‘s news article titled: “Better Buy Now: Silver Wheaton Corp. vs. Alcoa Inc.” with publication date: September 02, 2016.

Silver Wheaton Corp. is a mining company. The company has a market cap of $15.03 billion. The Firm is a pure precious metals streaming firm engaged in the sale of silver and gold. It currently has negative earnings. It has entered into over 19 long-term purchase agreements and approximately two early deposit long-term purchase agreement associated with silver and gold, relating to over 30 different mining assets, whereby Silver Wheaton acquires silver and gold production at various mines.

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