Wheaton Precious Metals (WPM)

We received a request on Wheaton Precious Metals (WPM). The stock came under pressure yesterday but remains above its most recent breakout and retest zone from 114.00 down to 111.60. Holding above or near this support keeps WPM’s breakout from an early October–early December bullish consolidation intact with upside potential to 132-135. Rising 26- and 40-day moving averages at 112 and 108 reinforce this constructive tactical setup

The key for the bulls is reclaiming yesterday’s downside gap at 120.44–121.33, which would shift the immediate focus back to the upside.

Chart 1: Wheaton Precious Metals (WPM)