Earlier this month, shares of AMERICAS SILVER CORPORATION - NYSE:USAS recaptured its 200 DMA and has subsequently put in a nice rush into higher ground on the heels of the recent move in Gold to multi-year highs as we can observe in the Daily chart above.
In addition, USAS now finds itself trading above all of its important moving averages 20/50/200 DMA's, which depicts a healthy technical posture.
While the stock may be in need of some consolidation at present after its recent surge, we're monitoring the action closely as we believe that any signs of weakness or pullback from present levels may provide opportunity.
Thus, both investors/traders may want to keep a close eye on the action moving forward as we suspect that USAS has eyes for the $2.60-$2.70 zone and when and if achieved, we may just witness a run into the $3-$4 zone in the not too distant future.