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Aftermath Silver ($AAGFF $AAG.CA) Reaching The Blue Box

May 28, 2021 10:27 AM ETAftermath Silver Ltd. (AAGFF)
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After Gold made new all time highs in August 2020 the precious metals sector got a much needed incomplete bullish sequence confirmation. Aftermath Silver Corporation is in a good spot to take advantage of possible USDX weakness, and precious metals strength in the future. It is a penny stock, and as such, has a very volatile chart. Aftermath Silver is a Jr precious metals exploration company that has a nice chart structure to it.

With that in mind, we are going to take a look at chart on OTC market since setting the low in May of 2019. The OTC ticker is $AAGFF and the the Canadian Symbol is $AAG which is listed on the Venture Exchange in Canada.

Aftermath Elliottwave View:

The OTC chart has reliable data only going back to May 2019 low. From that low a wave (1) was set on Jan 3, 2020 at 0.42. After that, an all too common occurrence in many instruments. The correction into the March 2020 low where (2) is set. From there a very impulsive rally took hold. This brought the stock price from (2) low @ 0.06 to a peak of 1.37 in January 2021. After that, an ABC correction has taken place into the blue box equal leg extreme where a low is favoured. The blue box is an area where a reaction can take place in 3 waves at least. Moreover, these areas can provide a high probability trade reaction.

In conclusion, as long as the recent Red II low holds, further upside is favoured to take place out of the blue box.

Source: Elliott Wave Forecast - Forex & Stock Forecasts & Signals

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