iShares MSCI Global Silver Miners ETF Forecast
Weaker technical forecast for iShares MSCI Global Silver Miners as ETF downgraded to Hold/Accumulate.
(Updated on May 08, 2024)
The iShares MSCI Global Silver Miners ETF price fell by -0.513% on the last day (Wednesday, 8th May 2024) from $11.70 to $11.64. During the last trading day the ETF fluctuated 1.52% from a day low at $11.59 to a day high of $11.77. The price has been going up and down for this period, and there has been a 0.26% gain for the last 2 weeks. Volume has increased on the last day by 181 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, 246 thousand shares were bought and sold for approximately $2.87 million.
The ETF lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.53 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 49.00% during the next 3 months and, with a 90% probability hold a price between $17.18 and $20.41 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SLVP Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.20%. 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. The iShares MSCI Global 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 $11.48 and $11.19. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for iShares MSCI Global Silver Miners ETF
iShares MSCI Global Silver Miners finds support from accumulated volume at $11.51 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 $0.177 (1.52%) between high and low. For the last week, the ETF has had daily average volatility of 1.54%.
Our recommended stop-loss: $11.28 (-3.10%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (SLVP) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect iShares MSCI Global Silver Miners ETF to open at $11.67, and during the day (based on 14 day Average True Range), to move between $11.29 and $11.99, which gives a possible trading interval of +/-$0.347 (+/-2.98%) up or down from last closing price. If iShares MSCI Global Silver Miners ETF takes out the full calculated possible swing range there will be an estimated 5.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.51 (1.12%) than the resistance at $11.83 (1.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is iShares MSCI Global Silver Miners ETF ETF A Buy?
iShares MSCI Global Silver Miners holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.975 Hold/Accumulate Downgraded
Predicted Opening Price for iShares MSCI Global Silver Miners ETF of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $11.67 ( 0.219%) | $11.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLVP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.84 | 1.74 % | |
| R2 | 11.77 | 1.16 % | ||
| R1 | 11.73 | 0.798 % | ||
| Current price: | 11.64 | |||
| Support | S1 | 11.60 | -0.360 % | |
| S2 | 11.56 | -0.718 % | ||
| S3 | 11.49 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.15 | 4.38 % | |
| R2 | 12.09 | 3.87 % | ||
| R1 | 11.83 | 1.63 % | ||
| Current price | 11.64 | |||
| Support | S1 | 11.51 | -1.12% | |
| S2 | 11.45 | -1.63% | ||
| S3 | 11.22 | -3.61% |
SLVP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.0480 | 0.475% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.0410 | 0.404% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.0100 | 0.0983% |
| 4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.0570 | 0.528% |
| 5 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $0.0610 | 0.488% |
FAQ
Click here for our free guide on how to buy iShares MSCI Global Silver Miners ETF ETF.
