Pan American Silver (PAAS) impulsive rally in progress

Elliott Wave Forecast Team ElliottWave-Forecast.com

Pan American Silver Corp. (PAAS) is a mining company headquartered in Vancouver, Canada. It specializes in the exploration, development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines. Established in 1979, the company operates mines across Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil.

PAAS monthly Elliott Wave chart

Monthly Elliott Wave chart shows the stock completed Grand Super Cycle wave ((II) at 5.89. It has rallied higher in wave ((III)) with internal subdivision as an impulse. Up from wave ((II)), wave (I) ended at 40.11 and pullback in wave (II) ended at 12.16. The stock has turned higher as a nest in wave (III). As far as pivot at 5.89 low stays intact, expect the stock to extend higher.

PAAS daily Elliott Wave chart

Daily Elliott Wave Chart shows that wave (II) ended at 12.18. The stock then resumed higher in wave (III) with internal subdivision as an impulse. Up from wave (II), wave wave I ended at 24.27. Pullback in II ended at 17.86. The stock then resumed higher in wave III in a nest. Up from wave II, wave ((1)) of III ended at 26.05 and pullback in wave ((2)) of III ended at 20.75. Near term, while above 12.43, expect the stock to continue higher.

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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