S Physical Silver ETF Forecast
S Physical Silver ETF downgraded to Sell Candidate
(Updated on May 03, 2024)
The S Physical Silver ETF price fell by -0.627% on the last day (Friday, 3rd May 2024) from $25.50 to $25.34. During the last trading day the ETF fluctuated 1.80% from a day low at $24.99 to a day high of $25.44. The price has fallen in 6 of the last 10 days and is down by -7.65% for this period. Volume has increased on the last day by 115 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, 1 million shares were bought and sold for approximately $32.15 million.
Given the current short-term trend, the ETF is expected to rise 26.93% during the next 3 months and, with a 90% probability hold a price between $32.16 and $36.85 at the end of this 3-month period.
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SIVR Signals & Forecast
There are few to no technical positive signals at the moment. The S Physical Silver ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $25.67 and $25.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -8.32%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for S Physical Silver ETF
S Physical Silver finds support from accumulated volume at $24.96 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 $0.450 between high and low, or 1.80%. For the last week, the ETF has had daily average volatility of 1.86%.
S Physical Silver is oversold on RSI14 (23). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SIVR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ETFS Physical Silver to open at $25.26, and during the day (based on 14 day Average True Range), to move between $24.72 and $25.96, which gives a possible trading interval of +/-$0.619 (+/-2.44%) up or down from last closing price. If ETFS Physical Silver takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.65 (1.22%) than the support at $24.96 (1.50%), 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 ETFS Physical Silver ETF A Buy?
The S Physical Silver ETF holds several negative signals and despite the positive trend, we believe S Physical Silver will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.
Current score: -3.096 Sell Candidate Downgraded
Predicted Opening Price for ETFS Physical Silver of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$25.26 ( 0.329%) | $25.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SIVR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.71 | 1.45 % | |
R2 | 25.53 | 0.769 % | ||
R1 | 25.43 | 0.350 % | ||
Current price: | 25.34 | |||
Support | S1 | 25.08 | -1.01 % | |
S2 | 24.98 | -1.43 % | ||
S3 | 24.81 | -2.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.64 | 9.08 % | |
R2 | 26.82 | 5.84 % | ||
R1 | 25.65 | 1.22 % | ||
Current price | 25.34 | |||
Support | S1 | 24.96 | -1.50% | |
S2 | 23.91 | -5.64% | ||
S3 | 23.85 | -5.88% |
FAQ
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