Silver Tiger Metals Inc. Stock Forecast
Stronger technical forecast for Silver Tiger Metals Inc. stock price after Tuesday trading.
(Updated on May 28, 2024)
The Silver Tiger Metals Inc. stock price fell by -3.51% on the last day (Tuesday, 28th May 2024) from $0.285 to $0.275. During the last trading day the stock fluctuated 9.26% from a day low at $0.270 to a day high of $0.295. The price has risen in 6 of the last 10 days and is up by 41.03% over the past 2 weeks. Volume has increased on the last day by 101 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, 310 thousand shares were bought and sold for approximately $85.27 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.287 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 58.05% during the next 3 months and, with a 90% probability hold a price between $0.335 and $0.453 at the end of this 3-month period.
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SLVR.V Signals & Forecast
The Silver Tiger Metals Inc. stock 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 $0.274 and $0.214. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, May 27, 2024, and so far it has fallen -3.51%. Further fall is indicated until a new bottom pivot has been found. Silver Tiger Metals Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Silver Tiger Metals Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.250 and $0.220. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Silver Tiger Metals Inc. finds support just below today's level at $0.250. If this is broken, then the next support from accumulated volume will be at $0.220 and $0.215.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0250 between high and low, or 9.26%. For the last week, the stock has had daily average volatility of 7.39%.
The Silver Tiger Metals Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $0.268 (-2.59%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (SLVR.V) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Silver Tiger Metals Inc. to open at $0.280, and during the day (based on 14 day Average True Range), to move between $0.258 and $0.292, which gives a possible trading interval of +/-$0.0171 (+/-6.22%) up or down from last closing price. If Silver Tiger Metals Inc. takes out the full calculated possible swing range there will be an estimated 12.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.280 (1.82%) than the support at $0.250 (9.09%), 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 Silver Tiger Metals Inc. 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 Silver Tiger Metals Inc. 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: 1.390 Buy Candidate Upgraded
Predicted Opening Price for Silver Tiger Metals Inc. of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $0.280 ( 1.82%) | $0.275 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLVR.V
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.305 | 10.91 % | |
| R2 | 0.295 | 7.44 % | ||
| R1 | 0.290 | 5.29 % | ||
| Current price: | 0.275 | |||
| Support | S1 | 0.270 | -1.65 % | |
| S2 | 0.265 | -3.80 % | ||
| S3 | 0.255 | -7.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.285 | 3.64 % | ||
| R1 | 0.280 | 1.82 % | ||
| Current price | 0.275 | |||
| Support | S1 | 0.250 | -9.09% | |
| S2 | 0.220 | -20.00% | ||
| S3 | 0.215 | -21.82% |
FAQ
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