NYSEAM:SVLC - Post by User
Comment by
KevinF2848on Jul 27, 2013 1:56pm
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Post# 21634505
RE:Sandstorm UG option evaluation. Discussion welcome
RE:Sandstorm UG option evaluation. Discussion welcomeI agree. I am a shareholder in both companies. I am surprised that Sandstorm has not announced it yet. Maybe they are waiting until closer to the end of the year, or maybe when their stock shows some momentum. Sandstorm's chart looks like they might bump up a bit this week and finally get above the 50 day MA. As a shareholder of Silvercrest, I hope that Sandstorm does not pick up the UG, Silvercrest has enough money now to get into expanded production.
Speaking on the subject of technicals, Silvercrest needs to hold this level on Monday. It is sitting at the 50 day MA and has filled the gap. I follow SVLC so it may be a bit different than the Canadian market, but I'm pretty sure they are about the same. The MACD could go into negative numbers on a down day on Monday, so again, Monday is a big day. There is support right here with the 50 MA and also at the 38.2 fib retacement, which is at $1.61. $2 is the major resistance.
Fundamentally, management is doing a great job. You really can't ask them to do a better job than they have. Once the PM market breaks, I'm pretty confident this stock will hit new highs. And yes, I know that means getting above the $3 mark. If you look at where they are now and where they were the last time that the stock was $3, Silvercrest is a much better company today.