Gatos Silver, Inc. Stock Forecast
Gatos Silver, Inc. stock price down 2.09% on Wednesday
(Updated on May 22, 2024)
The Gatos Silver, Inc. stock price fell by -2.09% on the last day (Wednesday, 22nd May 2024) from $11.99 to $11.74. During the last trading day the stock fluctuated 5.97% from a day low at $11.73 to a day high of $12.43. The price has been going up and down for this period, and there has been a 12.02% gain for the last 2 weeks. Volume has increased on the last day by 237 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 747 thousand shares were bought and sold for approximately $8.77 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 74.17% during the next 3 months and, with a 90% probability hold a price between $18.72 and $21.76 at the end of this 3-month period.
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GATO Signals & Forecast
The Gatos Silver, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $11.57 and $10.22. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -4.71%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Gatos Silver, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.80 and $9.68. There is a 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, Gatos Silver, Inc. finds support just below today's level at $9.80. If this is broken, then the next support from accumulated volume will be at $9.68 and $9.27.
This stock may move much during the 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 $0.700 between high and low, or 5.97%. For the last week, the stock has had daily average volatility of 4.97%.
Our recommended stop-loss: $11.40 (-2.92%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (GATO) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Gatos Silver, Inc. to open at $11.97, and during the day (based on 14 day Average True Range), to move between $11.15 and $12.33, which gives a possible trading interval of +/-$0.593 (+/-5.05%) up or down from last closing price. If Gatos Silver, Inc. takes out the full calculated possible swing range there will be an estimated 10.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.91 (1.45%) than the support at $9.80 (16.52%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Gatos Silver, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gatos Silver, Inc. stock to perform well in the short-term.
Current score: 1.572 Buy Candidate Unchanged
Predicted Opening Price for Gatos Silver, Inc. of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| $11.97 ( 1.93%) | $11.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GATO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.67 | 7.89 % | |
| R2 | 12.40 | 5.62 % | ||
| R1 | 12.23 | 4.21 % | ||
| Current price: | 11.74 | |||
| Support | S1 | 11.70 | -0.347 % | |
| S2 | 11.53 | -1.75 % | ||
| S3 | 11.27 | -4.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.32 | 4.94 % | |
| R2 | 11.99 | 2.13 % | ||
| R1 | 11.91 | 1.45 % | ||
| Current price | 11.74 | |||
| Support | S1 | 9.80 | -16.52% | |
| S2 | 9.68 | -17.55% | ||
| S3 | 9.27 | -21.04% |
FAQ
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