Minco Silver Corporation Stock Forecast

Stronger technical forecast for Minco Silver Corporation stock price after Friday trading.
(Updated on May 10, 2024)

MSV.TO Signals & Forecast

The Minco Silver Corporation 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 $0.221. On a fall, the stock will find some support from the long-term average at approximately $0.200. 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. 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 Thursday, May 09, 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, May 06, 2024 and based on theory for this formation the price should fall by -6.82% to $0.205 within 4 trading days since signal was issued (Monday, May 13, 2024).

Support, Risk & Stop-loss for Minco Silver Corporation stock

Minco Silver Corporation finds support from accumulated volume at $0.210 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 1.90%

Our recommended stop-loss: $0.211 (-3.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (MSV.TO) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Minco Silver Corporation to open at $0.220, and during the day (based on 14 day Average True Range), to move between $0.206 and $0.234, which gives a possible trading interval of +/-$0.0139 (+/-6.33%) up or down from last closing price. If Minco Silver Corporation takes out the full calculated possible swing range there will be an estimated 12.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.225 (2.27%) than the support at $0.210 (4.55%), 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 Minco Silver Corporation 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 Minco Silver Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.124 Buy Candidate Upgraded

Predicted Opening Price for Minco Silver Corporation of Monday, May 13, 2024

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