Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Update on Silver Sand Stock in Position to Take Off Again
Contributed Opinion

Share on Stocktwits


An explorer with a silver sands project is profiled by technical analyst Clive Maund.

Silver stock New Pacific Metals Corp. (NUAG:TSX.V; NUPMF:OTCQX) has results due out son, and its charts suggest that they are likely to be good. We bought it back at the start of November and it was the subject of a couple of brief updates later that month, and hung on through a nasty drop in January, since which time it has more than completely recovered, so that we are now up on our first purchase, as we can see on its latest 6-month chart.

Since the start of the month it appears it have been marking out what approximates to a bull Flag, with the predominantly white candles and strong Accum line suggesting that it will soon proceed to break out upside from this pattern, and above the zone of resistance shown up to C$1.65, and such a breakout could of course be occasioned by positive drilling results, which are believed to be due out soon. The strong Accum line is a sign that insiders are buying ahead of this.

We thus stay long and new purchases are in order here, but holders and new buyers should place a stop just beneath the nearby support shown, just in case it breaks lower.

The longer-term charts make for interesting viewing. On the 6-year chart we can see that after completing a fine Saucer base, New Pacific has been romping ahead in a vigorous uptrend, which strong volume indicators suggest is not about to end, and the noteworthy thing is that it hasn't required a bull market in silver itself to achieve this, which implies that if silver does finally get moving, the advance in New Pacific could even accelerate.

Finally the 20-year chart shows us the wild history of this stock which has made a number of gigantic swings. On this chart we see a possible target for the current uptrend – the resistance at the 2010 – 2011 highs. One other thing it makes clear is that you don’t want to stick around "once the music stops." New Pacific trades in rather light volumes on the US OTC market and there are 132 million shares in issue.

New Pacific Metals Corp website

New Pacific Metals Corp, NUAG.V, NUPMF on OTC, closed at C$1.55, $1.16 on 14th March 2018.

Clive Maund has been president of, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

1) Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with New Pacific Metals.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of New Pacific Metals, a company mentioned in this article.

Charts provided by the author. Disclosure:
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.

Want to read more about Silver investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe