SSR Mining Inc Stock Forecast
Weaker technical forecast for SSR Mining Inc as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The SSR Mining Inc stock price fell by -0.95% on the last day (Friday, 3rd May 2024) from $7.38 to $7.31. During the last trading day the stock fluctuated 3.16% from a day low at $7.27 to a day high of $7.50. The price has risen in 6 of the last 10 days but is still down by -0.41% for this period. Volume has increased on the last day by 30 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, 296 thousand shares were bought and sold for approximately $2.16 million.
The stock lies the upper part of a very wide and falling 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 $7.58 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.07% during the next 3 months and, with a 90% probability hold a price between $3.58 and $6.14 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSRM.TO Signals & Forecast
The SSR Mining Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $7.47. On a fall, the stock will find some support from the long-term average at approximately $6.66. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 29, 2024, and so far it has fallen -5.06%. 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 stock should be followed more closely.
Support, Risk & Stop-loss for SSR Mining Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.48 and $6.08. 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, SSR Mining Inc finds support just below today's level at $6.48. If this is broken, then the next support from accumulated volume will be at $6.08 and $6.02.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.230 between high and low, or 3.16%. For the last week, the stock has had daily average volatility of 3.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSRM.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SSR Mining Inc to open at $7.36, and during the day (based on 14 day Average True Range), to move between $6.98 and $7.64, which gives a possible trading interval of +/-$0.331 (+/-4.53%) up or down from last closing price. If SSR Mining Inc takes out the full calculated possible swing range there will be an estimated 9.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.34 (0.41%) than the support at $6.48 (11.35%), 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.
Earnings coming up
SSR Mining Inc will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0600. We will update the financials statements for SSR Mining Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.51% in the first trading day after earnings release.
Is SSR Mining Inc stock A Buy?
SSR Mining Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.409 Sell Candidate Downgraded
Predicted Opening Price for SSR Mining Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $7.36 ( 0.684%) | $7.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSRM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.59 | 3.83 % | |
| R2 | 7.50 | 2.63 % | ||
| R1 | 7.45 | 1.89 % | ||
| Current price: | 7.31 | |||
| Support | S1 | 7.27 | -0.518 % | |
| S2 | 7.22 | -1.26 % | ||
| S3 | 7.13 | -2.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.70 | 5.34 % | |
| R2 | 7.38 | 0.96 % | ||
| R1 | 7.34 | 0.410 % | ||
| Current price | 7.31 | |||
| Support | S1 | 6.48 | -11.35% | |
| S2 | 6.08 | -16.83% | ||
| S3 | 6.02 | -17.65% |
SSRM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 09, 2023 | Nov 10, 2023 | Dec 11, 2023 | $0.0700 | 0.478% |
| 2 | Nov 09, 2023 | Nov 09, 2023 | Dec 11, 2023 | $0.0700 | 0.478% |
| 3 | Aug 11, 2023 | Aug 11, 2023 | Sep 11, 2023 | $0.0700 | 0.349% |
| 4 | May 12, 2023 | May 12, 2023 | Jun 12, 2023 | $0.0700 | 0.366% |
| 5 | Mar 02, 2023 | Mar 02, 2023 | Mar 30, 2023 | $0.0700 | 0.340% |
FAQ
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