RE:RE:RE:RE:Another endorsement!! carmech,
Here is how I see the current technical situation in GPL and USAS:
Great Panther stock is doing exactly what it needed to do during this consolidation, namely chase the weak longs who cannot take the daily volatility in this stock, attract short interest to play the consolidation for their penny gains on the short side, and provide long term investors with the opportunity to accumulate share positions on the long side at attractive prices.
Looking at the daily swing lows, GPL has made a series of higher swing lows.
The May 24 swing low at 64.6 cents was made on 381,064 shares,
followed by a higher swing low on June 14 at 71.0 cents on 509,457 shares.
Following this low there was a lower swing low at 70.5 cents on July 15 on higher volume of
1,158,851 shares--indicating that there would be lower swing lows to come.
Sure enough, on September 16, GPL made a swing low of 68.1 cents on monster volume
of 3,005,097 shares. One would think that a 3 million share day would have driven the stock price below the May 24th swing low at 64.6 cents!
However, the shorts were covering and investors were adding at that 68 cent price level. That 68.1 swing price was successfully retested on October 1st with a swing low of 68.0 cents on much lighter trading volume of 764,127 shares. So the stage is set for fundamental forces to drive the GPL stock price much higher.
The daily swing lows of GPR.TO trading on the TSX mirror the pattern of swing lows of GPL trading in the US. The 5/24 swing low at 81 cents CAD was made on 318,200 shares followed by the higher swing low at 91 cents CAD on July 15 on higher volume of 1,339,780 shares, and the 7/15 swing low was successfully tested on October 1 at 89.5 cents with a lighter trading volume of 595,209 shares. So GPL and GPR are both set for higher prices IMHO.
Meanwhile, Americas Silver (USAS)--excuse me, Americas Gold and Silver (USAS), made a swing low on May 30th at $1.61 USD on light volume of 71,725 shares, then went on a monster run up to the August 9th swing hihg at $3.92 USD on trading volume of 894,593 shares. That swing high came the day before Q2 2019 financials were released, and the market administered truth serum on August 13th in the form of VOLUME OFF the HIGH and USAS closed at $3.26 that day. Trading volume was 1,896,182 shares.
The low of the swing high was retested on August 29th at $3.75 USD on 903,958 shares. That set the stage for a consolidation, and a series of lower swing lows. On September 13, USAS made a low at $2.69 USD on 634,974 shares, followed by a lower swing low of $2.45 on higher volume of 735,049 shares. The A to B move down from $3.75 to $2.69 = - $1.06. The C point of the ABC down is the September 23rd swing high at $3.21 USD, so the 1:1 target on the projected retrace (if it turns into an ABC down) is $2.15 USD.
On the daily GPL to USAS ratio chart, GPL made a low of 0.2199 x USAS on August 9th, and restested the low on August 28 with a lower low of 0.212 x USAS. Since the end of
August GPL has been making a series of higher highs and higher lows on the daily stock price ratio. On the weekly ratio chart, GPL made a relative strength ratio low on the week of August 23rd, and since then GPL has been increasing on relative strength versus USAS.
So I see USAS as in a consolidation with lower prices ahead, while GPL is in an uptrend on an absolute and relative basis versus USAS.