FREE

Elliott Wave: PAAS to Resume Higher in Wave ((5)), Targeting $44.8

Pan American Silver Corp. (PAAS) is one of the world’s largest primary silver producers, with diversified mining operations across the Americas. In addition to silver, the company has substantial exposure to gold and other precious metals. This makes it a key player in the resource sector. In this article, we will update the long term Elliott Wave technical outlook of the stock.The monthly Elliott Wave analysis for Pan American Silver (PAAS) suggests that the stock completed wave ((II)) of the Grand Supercycle at the $5.89 low, establishing a major long-term pivot. Since then, it has embarked on wave ((III)), which is unfolding as a bullish impulse. From that base, wave (I) advanced to $40.11 before undergoing a corrective wave (II) that bottomed at $12.16. The rally resumed in wave (III), within which wave I peaked at $28.60 and wave II retraced to $20.55. Provided the $5.89 low remains intact, corrective pullbacks are expected to attract buyers in a 3-, 7-, or 11-swing structure, reinforcing the bullish trajectory and supporting further upside potential.