Boxing Match

"You stop this fight, I'll kill ya."
--Rocky Balboa (Rocky)

When stocks begin a secular liftoff they often follow a pattern attributable to 'box theory.' Sideways movement punctuated by breakouts to a new range (shaped like a box) on big volume.

Pan American Silver (PAAS) has shown early signs of this pattern. After bottoming at a 52 week low in late May, the stock jumped higher on big volume. It has since jumped two more boxes higher, also on big volume.

This is classic technical action associated with new attention being paid to a stock that is now under accumulation.

Am looking to add to my position should the stock retrace a bit in the current box.

position in PAAS