UAMY corrects after hitting upside targets

We highlighted the breakout from a tactical head and shoulders bottom for United States Antimony Corp. (UAMY) in the Straight from the Chart blog on January 8, 2026, citing upside targets at 9.60 (pattern count), 10.22 (38.2% retracement of the October-December decline), and 12.03 (61.8% retracement), with the late October downside gap from 10.27 to 11.45. The stock tested most of these upside targets and stalled just shy of 12.03 prior to forming a bearish engulfing pattern, confirmed by high volume, on January 23 and 26.

Chart 1: United States Antimony Corp. (UAMY) (top) and volume (bottom): Daily chart

The high-volume bearish engulfing line from January 26 could provide an overhang for UAMY. This suggests the risk for a deeper tactical correction with key retracement levels for the rally from mid December into late January at 9.06 (38.2% retracement, which UAMY has already tested), 8.16 (50% retracement), and 7.26 (61.8% retracement). The 61.8% retracement is just above the 6.95 breakout level.

Until proven otherwise, daily price momentum as measured by the 28-day Williams %R has broken down, which confirms the risk for a deeper correction on UAMY. It would take an immediate move back into overbought to firm up the pattern for this stock.

Chart 2: United States Antimony Corp. (UAMY) (top) and Williams %R (bottom): Daily chart