First Majestic Silver Corp. Stock Forecast
Red day on Friday for First Majestic Silver Corp.
(Updated on May 10, 2024)
The First Majestic Silver Corp. stock price fell by -1.50% on the last day (Friday, 10th May 2024) from 6.93€ to 6.83€. During the last trading day the stock fluctuated 5.55% from a day low at 6.77€ to a day high of 7.15€. The price has been going up and down for this period, and there has been a 7.19% gain for the last 2 weeks. Volume has increased on the last day by 36 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, 59 thousand shares were bought and sold for approximately 402.24€ thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 6.50€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 62.97% during the next 3 months and, with a 90% probability hold a price between 10.59€ and 14.09€ at the end of this 3-month period.
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FMV.F Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -8.96%. 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). First Majestic Silver Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The First Majestic 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 6.61€ and 6.35€. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for First Majestic Silver Corp. stock
First Majestic Silver Corp. finds support from accumulated volume at 6.52€ 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 0.376€ between high and low, or 5.55%. For the last week, the stock has had daily average volatility of 5.22%.
Our recommended stop-loss: 6.62€ (-3.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (FMV.F) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect First Majestic Silver Corp. to open at 6.92€, and during the day (based on 14 day Average True Range), to move between 6.49€ and 7.17€, which gives a possible trading interval of +/-0.340€ (+/-4.98%) up or down from last closing price. If First Majestic Silver Corp. takes out the full calculated possible swing range there will be an estimated 9.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 6.95€ (1.88%) than the support at 6.52€ (4.54%), 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 First Majestic Silver Corp. 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 First Majestic Silver Corp. stock to perform well in the short-term.
Current score: 1.830 Buy Candidate Unchanged
Predicted Opening Price for First Majestic Silver Corp. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| 6.92€ ( 1.33%) | 6.83€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMV.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.29 | 6.84 % | |
| R2 | 7.15 | 4.73 % | ||
| R1 | 7.06 | 3.43 % | ||
| Current price: | 6.83 | |||
| Support | S1 | 6.77 | -0.776 % | |
| S2 | 6.68 | -2.08 % | ||
| S3 | 6.54 | -4.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.40 | 8.35 % | |
| R2 | 7.05 | 3.22 % | ||
| R1 | 6.95 | 1.88 % | ||
| Current price | 6.83 | |||
| Support | S1 | 6.52 | -4.54% | |
| S2 | 6.46 | -5.33% | ||
| S3 | 5.75 | -15.70% |
FMV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 13, 2024 | 0€ | 0% |
| 2 | Nov 14, 2023 | Nov 14, 2023 | Nov 14, 2023 | 0€ | 0% |
| 3 | Aug 15, 2023 | Aug 15, 2023 | Aug 15, 2023 | 0.0051€ | 0% |
| 4 | May 17, 2023 | May 17, 2023 | May 17, 2023 | 0.0057€ | 0% |
| 5 | Mar 09, 2023 | Mar 09, 2023 | Mar 09, 2023 | 0.0054€ | 0% |
FAQ
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