Pan American Silver (PAAS) Price Forecast: Bullish Reversal Targets Key Resistance Levels

Author: Bruce Powers

Updated: July 22, 2026

Key Points

• Two upside breakouts signal potential bullish reversal.
• $47.37 is the first key resistance target.
• The 50-day moving average near $49.46 adds resistance.
• A move above $53.99 strengthens the reversal signal.
• Weekly reversal supports potential for a broader advance.

Overview

Pan American Silver Corp. (PAAS) has recently triggered two significant upside breakouts, indicating a potential bullish reversal after a corrective decline. This decline found a bottom after completing a 78.6% Fibonacci retracement of the previous advance. The company, a major player in the silver mining sector, has shown early signs of strength as buyers appear to be regaining control.

Breakout Analysis

The first breakout occurred from a falling bullish wedge pattern, confirmed on Tuesday, alongside a reclaim of the 20-day moving average, which had been a dynamic resistance since mid-May. A second wedge formation can be identified, suggesting that the corrective decline may be losing momentum.

Resistance Levels

The initial target for the bullish reversal is set at $47.37, with a more significant resistance level at $53.99. A move above $47.37 would confirm that the recent bottom is developing into a more meaningful bullish reversal. The 50-day moving average at $49.46 is also a critical resistance level that needs to be reclaimed to strengthen the bullish outlook.

Weekly Chart Insights

The weekly chart indicates a declining trend channel that has defined the price action since the peak of $69.99 in January. A recent one-week upside reversal has established a higher high and higher low, occurring from the lower boundary of the channel. This suggests a potential approach to the upper boundary of the declining channel, reinforcing the bullish signals observed on the daily chart.

Conclusion

If PAAS can continue to reclaim resistance levels, the weekly reversal could lay the groundwork for a broader advance towards the upper boundary of the declining channel. The combination of daily and weekly bullish signals suggests that the recent corrective phase may have ended, paving the way for potential gains in the stock price.