Discovery Silver Corp. Stock Forecast

Green day on Thursday for Discovery Silver Corp.
(Updated on Apr 25, 2024)

DSVSF Signals & Forecast

A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -7.75%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Discovery Silver Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.682. On a fall, the stock will find some support from the long-term average at approximately $0.601. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. The stock had a Golden Star Signal on Wednesday, March 27, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Discovery Silver Corp. stock

Discovery Silver Corp. finds support from accumulated volume at $0.663 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0262 between high and low, or 4.00%. For the last week the stock has had daily average volatility of 6.34%.

Our recommended stop-loss: $0.639 (-5.54%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (DSVSF) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Discovery Silver Corp. to open at $0.671, and during the day (based on 14 day Average True Range), to move between $0.632 and $0.722, which gives a possible trading interval of +/-$0.0448 (+/-6.61%) up or down from last closing price. If Discovery Silver Corp. takes out the full calculated possible swing range there will be an estimated 13.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.685 (1.15%) than the support at $0.663 (2.07%), 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 Discovery Silver Corp. stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.844 Buy Candidate Unchanged

Predicted Opening Price for Discovery Silver Corp. of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.