Silver Hammer Mining Corp. Stock Forecast
Silver Hammer Mining Corp. stock price fell more than -7.14% Thursday closing at $0.0650
(Updated on Jul 04, 2024)
The Silver Hammer Mining Corp. stock price fell by -7.14% on the last day (Thursday, 4th Jul 2024) from $0.0700 to $0.0650. During the last trading day the stock fluctuated 8.33% from a day low at $0.0600 to a day high of $0.0650. The price has fallen in 4 of the last 10 days but is still up by 8.33% over the past 2 weeks. Volume has increased on the last day by 42 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, 79 thousand shares were bought and sold for approximately $5.14 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.40% during the next 3 months and, with a 90% probability hold a price between $0.0293 and $0.0652 at the end of this 3-month period.
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HAMR.CN Signals & Forecast
There are few to no technical positive signals at the moment. The Silver Hammer Mining Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0671 and $0.0916. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -18.75%. 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). Silver Hammer Mining 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 very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Silver Hammer Mining Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0600. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0050 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 6.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HAMR.CN) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Silver Hammer Mining Corp. to open at $0.0633, and during the day (based on 14 day Average True Range), to move between $0.0548 and $0.0752, which gives a possible trading interval of +/-$0.0102 (+/-15.73%) up or down from last closing price. If Silver Hammer Mining Corp. takes out the full calculated possible swing range there will be an estimated 31.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0700 (7.69%) than the support at $0.0600 (7.69%), 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 Silver Hammer Mining Corp. stock A Buy?
Silver Hammer Mining Corp. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.174 Strong Sell Candidate Unchanged
Predicted Opening Price for Silver Hammer Mining Corp. of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$0.0633 ( 2.56%) | $0.0650 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HAMR.CN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0683 | 5.13% |
R2 | 0.0664 | 2.19% |
R1 | 0.0652 | 0.374% |
Price | 0.0650 | |
S1 | 0.0614 | -5.50% |
S2 | 0.0602 | -7.32% |
S3 | 0.0583 | -10.26% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0800 | 23.08% |
R2 | 0.0750 | 15.38% |
R1 | 0.0700 | 7.69% |
Price | 0.0650 | |
S1 | 0.0600 | -7.69% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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