Top Takes From RealMoney

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1. Upside for Pan American Silver

By Robert Moreno
3:50 p.m. EST

Pan American Silver (PAAS:Nasdaq) is a silver-mining company that has trailed others in the space since March, including Hecla Mining (HL:NYSE) and Silver Wheaton (SLW:NYSE), but may be poised to gain ground. Pan American Silver has enjoyed a strong uptrend since November 2008, rising more than 150% from the low. This move from around $10 to near $26.50 is a 50% retracement of the drop from the March 2008 high of $44. The stock price tested this important level first in October and again in late November.

Pan American Silver (PAAS) Source: StockCharts.com

Volume has declined in the past month, which is common when areas of support or resistance are tested, but it is still decidedly to the buy side. The uptrend line on the chart runs parallel with the 43-week/200-day moving average and has held support several times. The relative-strength indicator is above the 50 center line, indicating that average gains have trended higher than average losses. A successful break above $26.50 would power a move to the 61.8% retracement level at $30.67, the next level of resistance. This is a chart with clearly delineated buy, stop and target points.

Position: None