First Majestic Silver

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

First Majestic Silver ( AG) is engaged in production, development, exploration and acquisition of mineral properties with a focus on silver production in Mexico. This stock closed up 4.1% at $12.76 in Friday's trading session.

Friday's Volume: 1.61 million
Three-Month Average Volume: 1.22 million
Volume % Change: 65%

From a technical perspective, AG trended higher here right above its 50-day moving average of $11.50 and right above some near-term support at $11.35 with above-average volume. This move is quickly pushing shares of AG within range of triggering a major breakout trade. That trade will hit if AG manages to take out some near-term overhead resistance at $13.50 to $13.97 with high volume.

Traders should now look for long-biased trades in AG as long as it's trending above its 50-day at $11.50 or above more support at $11.35 and then once it sustains a move or close above those breakout levels with volume that's near or above 1.22 million shares. If that breakout hits soon, then AG will set up to re-test or possibly take out its 200-day moving average at $16.02 to $17.21.

To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.


Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including and You can follow Pedone on Twitter at or @zerosum24.

If you liked this article you might like

Rio Tinto Could Offload Assets to Generate up to $10 Billion, Macquarie Says