CDE daily Dec 9th
CDE (Coeur Mining, Inc) is a silver mining stock which may be forming the right shoulder of an inverse head & shoulders reversal pattern. Aggressive traders anticipating a breakout in silver along with an accompanying rise in the mining sector could take a partial or even full position here at what could prove to be the bottom of the right shoulder, placing a stop slightly below the recent lows, say around 3.85, while adding to a full position if & when prices break above the neckline (assuming that prices do move higher from here & the symmetry of the pattern remains intact).
More conventional traders might opt to wait to see the right shoulder completely formed with a move back up to the neckline, only initiating a long position if & when prices breakout above the neckline. The approximate measured move for this pattern would bring prices to around the 7.50 level (about a 70% gain from current prices) but the exact price target(s) will follow, assuming the pattern continues to play out.
CDE will be added as an aggressive Active Long Trade here and also as a Long Trade Setup & Long-term Trade Idea with an entry to be triggered upon a break above the neckline (again, should one or two fairly symmetrical right shoulders form).