Bullish Action In Silver Stocks

Royal Gold isn’t the only royalty company “acting well” these days…
Recently, we noted the big rise in shares of elite royalty company Royal Gold (RGLD). Riding on the back of the surging gold prices, RGLD just struck an all-time high. Today, we note the bullish action in another top royalty name, Silver Wheaton.
#-ad_banner-#Silver Wheaton (SLW) is one of our favorite ways to invest in a precious metals uptrend. As we noted in this 2009 piece, the company is built around a strategy of collecting slices of revenue from many different mines… rather than representing an “all or nothing” bet on single strike. This makes it a diversified, leveraged vehicle to play rising silver prices.
After enjoying hundreds of percent gains from 2009 to 2011, Silver Wheaton went through a deep correction this spring. Shares fell from $46 to $30 per share. But as today’s chart shows, the stock found plenty of buying support in the past few weeks… and has left that low of $30 in the rearview mirror. This is bullish action from a market leader. The uptrend remains in tact.