Toronto Stock Exchange
Tickers analyzed: 977 | Updated: 2019-12-13 | Next Update: 2019-12-16
Today's Case: Pan American Silver Corp. (PAAS)
Bullish vs. Bearish (2 opinions)
Social Sentiment 0.38
PAAS.TO Forecast and Technical Stock Analysis
Buy candidate since 2019-12-10 Gain 8.52% PDF
Pan American Silver Corp. gained 1.43% in the last trading day ( Friday, 13th Dec 2019 ), rising from $28.00 to $28.40 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 3.04% from a day low at $27.60 to a day high of $28.44. The price has risen in 6 of the last 10 days and is up by 11.2% over the past 2 weeks. Volume fell in the last day by -192 759 shares and in total, 661 264 shares bought and sold for approximately $18.78 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the PAAS.TO stock price was $28.44 and low was $23.65.
- 90 day high was $28.44 and low was $20.29.
- 52 week high for Pan American Silver Corp. - $28.44 and low - $13.83.
Pan American Silver Corp. lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $28.87 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 24.97% during the next 3 months and, with 90% probability hold a price between $30.21 and $36.08 at the end of this period.
Only positive signals in the chart today. Pan American Silver Corp. holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $26.94 and $24.54. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday December 09, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $22.93 and $22.37.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Pan American Silver Corp. finds support just below today's level at $22.93. If this is broken, then the next support from accumulated volume will be at $22.37 and $21.95.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.84 between high and low, or 3.04%. For the last week, the stock has had a daily average volatility of 2.08%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $27.42 (-3.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from pivot bottom found 4 days ago.)
2.08 %Average volatility
Very Low Low Medium High Very High
Pan American Silver Corp. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.