Silver Wheaton (SLW) is a mining company, which generates its revenue primarily from the sale of silver. Its current market cap is $16.23 billion, and the stock is up sharply so far in 2011 by around 17%.
The trade here is pretty simple. Silver Wheaton is approaching a major breakout if it can manage to trade above $46 to $46.34 a share. Volume on Tuesday was already looking great as the stock approached those past overhead resistance levels. Over 17.2 million shares traded, which is well above the three-month average trading volume of 13.9 million shares. That was the highest volume up day since 17.3 million shares changed hands on March 16.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV