MG Prime Junior Silver Miners ETF Forecast
Green day on Friday for MG Prime Junior Silver Miners ETF after gaining 1.23%
(Updated on Apr 26, 2024)
The MG Prime Junior Silver Miners ETF price gained 1.23% on the last trading day (Friday, 26th Apr 2024), rising from $11.34 to $11.48. During the last trading day the ETF fluctuated 2.79% from a day low at $11.26 to a day high of $11.57. The price has risen in 6 of the last 10 days and is up by 2.59% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 1 million shares were bought and sold for approximately $12.35 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a 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 ETF is expected to rise 38.30% during the next 3 months and, with a 90% probability hold a price between $14.06 and $17.54 at the end of this 3-month period.
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SILJ Signals & Forecast
The MG Prime Junior Silver Miners ETF 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 $11.14 and $10.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 46.43%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MG Prime Junior Silver Miners ETF
MG Prime Junior Silver Miners finds support from accumulated volume at $11.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.314 between high and low, or 2.79%. For the last week, the ETF has had daily average volatility of 3.40%.
Our recommended stop-loss: $11.09 (-3.38%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (SILJ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ETFMG Prime Junior Silver Miners ETF to open at $11.44, and during the day (based on 14 day Average True Range), to move between $11.09 and $11.87, which gives a possible trading interval of +/-$0.392 (+/-3.41%) up or down from last closing price. If ETFMG Prime Junior Silver Miners ETF takes out the full calculated possible swing range there will be an estimated 6.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.42, some $0.0600 (0.52%) from the current price of $11.48, our system finds the risk reward attractive.
Is ETFMG Prime Junior Silver Miners ETF ETF 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 MG Prime Junior Silver Miners ETF to perform well in the short-term.
Current score: 3.039 Buy Candidate Unchanged
Predicted Opening Price for ETFMG Prime Junior Silver Miners ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $11.44 ( 0.365%) | $11.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SILJ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.75 | 2.37 % | |
| R2 | 11.63 | 1.33 % | ||
| R1 | 11.56 | 0.681 % | ||
| Current price: | 11.48 | |||
| Support | S1 | 11.32 | -1.41 % | |
| S2 | 11.24 | -2.06 % | ||
| S3 | 11.12 | -3.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 11.48 | |||
| Support | S1 | 11.42 | -0.523% | |
| S2 | 11.19 | -2.53% | ||
| S3 | 8.72 | -24.04% |
SILJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Dec 29, 2023 | $0.0009 | 0.0086% |
| 2 | Dec 27, 2022 | Dec 28, 2022 | Dec 30, 2022 | $0.0060 | 0.0569% |
| 3 | Dec 27, 2021 | Dec 28, 2021 | Dec 30, 2021 | $0.0450 | 0.364% |
| 4 | Dec 11, 2020 | Dec 14, 2020 | Dec 16, 2020 | $0.200 | 1.33% |
| 5 | Dec 30, 2019 | Dec 30, 2019 | Dec 30, 2019 | $0.170 | 1.37% |
FAQ
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