Endeavour Silver Corp. Stock Forecast
Strong day for Endeavour Silver Corp. stock price on Monday rising 8.31% to $3.91
(Updated on May 06, 2024)
The Endeavour Silver Corp. stock price gained 8.31% on the last trading day (Monday, 6th May 2024), rising from $3.61 to $3.91. During the last trading day the stock fluctuated 4.50% from a day low at $3.78 to a day high of $3.95. The price has fallen in 5 of the last 10 days but is still up by 11.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 576 thousand more shares were traded than the day before. In total, 955 thousand shares were bought and sold for approximately $3.73 million.
The stock lies in the middle of a very 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 93.66% during the next 3 months and, with a 90% probability hold a price between $7.06 and $8.95 at the end of this 3-month period.
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EDR.TO Signals & Forecast
The Endeavour Silver Corp. 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 $3.72 and $3.51. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 10, 2024, and so far it has fallen -1.26%. 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).
Support, Risk & Stop-loss for Endeavour Silver Corp. stock
Endeavour Silver Corp. finds support from accumulated volume at $3.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.170 between high and low, or 4.50%. For the last week, the stock has had daily average volatility of 4.20%.
Our recommended stop-loss: $3.76 (-3.71%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (EDR.TO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Endeavour Silver Corp. to open at $3.88, and during the day (based on 14 day Average True Range), to move between $3.70 and $4.12, which gives a possible trading interval of +/-$0.211 (+/-5.39%) up or down from last closing price. If Endeavour Silver Corp. takes out the full calculated possible swing range there will be an estimated 10.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.89 (0.51%) than the resistance at $3.96 (1.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Endeavour Silver Corp. will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Endeavour Silver Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.28% in the first trading day after earnings release.
Is Endeavour Silver Corp. stock A Buy?
Endeavour 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.333 Strong Buy Candidate Upgraded
Predicted Opening Price for Endeavour Silver Corp. of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
$3.88 ( 0.767%) | $3.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDR.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.05 | 3.58 % | |
R2 | 3.99 | 1.92 % | ||
R1 | 3.94 | 0.89 % | ||
Current price: | 3.91 | |||
Support | S1 | 3.82 | -2.43 % | |
S2 | 3.77 | -3.45 % | ||
S3 | 3.71 | -5.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 3.96 | 1.28 % | ||
Current price | 3.91 | |||
Support | S1 | 3.89 | -0.512% | |
S2 | 3.88 | -0.767% | ||
S3 | 3.85 | -1.53% |
FAQ
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