Silver prices rallied Wednesday despite upbeat economic data. Silver for March delivery gained roughly 4.0 percent, its largest spike since September 19th, to close at $19.830 a troy ounce on the Comex division of the New York Mercantile Exchange. Additionally, the iShares Silver Trust ETF (NYSEARCA: SLV) posted a gained of 3.15 percent Wednesday. Over the past few months, any economic data supporting a stronger U.S. economy would have pressured prices for gold and silver lower. "What we are seeing today may prove to be the early stage of another substantial short-covering rally into year-end," said Peter Grant, USAGold Chief Market Analyst.
First Majestic Silver Corp. (NYSE: AG) shares traded in the range of $8.82 to $9.49 Wednesday before settling to close at $9.46, an increase of 5.70 percent. The stock appears to be facing some resistance at the $9.96 and $10.42 levels with some support at $9.38. Shares of First Majestic Silver have fallen approximately 53.0 percent in 2013.
More information on First Majestic Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AG
Endeavour Silver Corp. (NYSE: EXK) shares traded in the range of $3.40 to $3.60 Wednesday before settling to close at $3.52, an increase of 2.92 percent. The stock appears to be facing some resistance at the $3.77 and $4.05 levels with some support at $3.47. Shares of Endeavour Silver have fallen approximately 55.0 percent in 2013.
More information on Endeavour Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/EXK
Silver Wheaton Corp. (NYSE: SLW)(TSX: SLW) shares traded in the range of $19.39 to $20.22 Wednesday before settling to close at $20.00, an increase of 3.04 percent. The stock appears to be facing some resistance at the $20.62 and $22.21 levels with some support at $17.78. Shares of Silver Wheaton have fallen approximately 45.0 percent in 2013.
More information on Silver Wheaton and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SLW
Silver Standard Resources Inc. (NASDAQ: SSRI)(TSX: SSO) shares traded in the range of $5.71 to $6.04 Wednesday before settling to close at $6.01 a share. The stock appears to be facing some resistance at the $6.23 and $6.49 levels with some support at $5.89. Shares of Silver Standard Resources have fallen approximately 60.0 percent in 2013.
More information on Silver Standard Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SSRI
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