Fortuna Silver Mines Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Fortuna Silver Mines Inc. stock downgraded after the last trading session.
(Updated on Jun 27, 2024)
No changes to the price of Fortuna Silver Mines Inc. stock on the last trading day (Thursday, 27th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $6.77 to a day high of $6.77. The price has risen in 4 of the last 10 days but is still down by -3.15% for this period.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $6.82. A reaction back to this level may hold a second chance to get out before further falls.
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0QYM.L Signals & Forecast
There are mixed signals in the stock today. The Fortuna Silver Mines Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $6.86. On a fall, the stock will find some support from the short-term average at $6.73. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Fortuna Silver Mines Inc. stock
Fortuna Silver Mines Inc. finds support from accumulated volume at $6.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0447%
Fortuna Silver Mines Inc. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0QYM.L) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Fortuna Silver Mines Inc. to open at $6.77, and during the day (based on 14 day Average True Range), to move between $6.56 and $6.98, which gives a possible trading interval of +/-$0.208 (+/-3.07%) up or down from last closing price. If Fortuna Silver Mines Inc. takes out the full calculated possible swing range there will be an estimated 6.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.65 (1.77%) than the resistance at $6.97 (2.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fortuna Silver Mines Inc. stock A Buy?
Fortuna Silver Mines Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.186 Strong Sell Candidate Downgraded
Predicted Opening Price for Fortuna Silver Mines Inc. of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
$6.77 ( 0%) | $6.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0QYM.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6.77 | - |
R2 | 6.77 | - |
R1 | 6.77 | - |
Price | 6.77 | |
S1 | 6.77 | - |
S2 | 6.77 | - |
S3 | 6.77 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.81 | 15.36% |
R2 | 6.99 | 3.25% |
R1 | 6.97 | 2.95% |
Price | 6.77 | |
S1 | 6.65 | -1.77% |
S2 | 6.57 | -2.96% |
S3 | 5.21 | -23.04% |
0QYM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | $0.285 | 5.75% |
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