MG Prime Junior Silver Miners ETF Forecast
MG Prime Junior Silver Miners ETF downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The MG Prime Junior Silver Miners ETF price fell by -1.17% on the last day (Friday, 10th May 2024) from $12.01 to $11.87. During the last trading day the ETF fluctuated 3.21% from a day low at $11.85 to a day high of $12.23. The price has risen in 7 of the last 10 days and is up by 3.4% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -858 thousand shares and in total, 2 million shares were bought and sold for approximately $29.19 million.
The ETF lies in the middle of a 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 52.37% during the next 3 months and, with a 90% probability hold a price between $17.15 and $18.40 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 $11.45 and $10.93. A breakdown below any of these levels will issue sell signals. 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 -1.17%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.380 (3.21%) between high and low. For the last week, the ETF has had daily average volatility of 2.47%.
Our recommended stop-loss: $11.39 (-4.04%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SILJ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect ETFMG Prime Junior Silver Miners ETF to open at $11.98, and during the day (based on 14 day Average True Range), to move between $11.48 and $12.26, which gives a possible trading interval of +/-$0.392 (+/-3.30%) 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 6.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.01 (1.18%) than the support at $11.42 (3.79%), 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 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.343 Buy Candidate Downgraded
Predicted Opening Price for ETFMG Prime Junior Silver Miners ETF of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $11.98 ( 0.95%) | $11.87 |
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 | 12.36 | 4.16 % | |
| R2 | 12.22 | 2.93 % | ||
| R1 | 12.13 | 2.18 % | ||
| Current price: | 11.87 | |||
| Support | S1 | 11.84 | -0.268 % | |
| S2 | 11.75 | -1.02 % | ||
| S3 | 11.60 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 12.01 | 1.18 % | ||
| Current price | 11.87 | |||
| Support | S1 | 11.42 | -3.79% | |
| S2 | 11.19 | -5.73% | ||
| S3 | 11.02 | -7.16% |
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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