Summa Silver Corp. Stock Forecast
Summa Silver Corp. stock price ended at $0.350 on Friday, after gaining 2.94%.
(Updated on Jun 14, 2024)
The Summa Silver Corp. stock price gained 2.94% on the last trading day (Friday, 14th Jun 2024), rising from $0.340 to $0.350. During the last trading day the stock fluctuated 2.13% from a day low at $0.343 to a day high of $0.350. The price has fallen in 6 of the last 10 days and is down by -11.86% for this period. Volume fell on the last day by -16 thousand shares and in total, 16 thousand shares were bought and sold for approximately $5.48 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.19% during the next 3 months and, with a 90% probability hold a price between $0.319 and $0.477 at the end of this 3-month period.
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SSVRF Signals & Forecast
The Summa Silver Corp. 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 $0.367. On a fall, the stock will find some support from the long-term average at approximately $0.332. 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 Thursday, June 06, 2024, and so far it has fallen -14.11%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should fall by -45.23% to $0.192 within 43 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for Summa Silver Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.319 and $0.309. 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, Summa Silver Corp. finds support just below today's level at $0.319. If this is broken, then the next support from accumulated volume will be at $0.309 and $0.300.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0073 between high and low, or 2.13%. For the last week the stock has had daily average volatility of 3.61%.
Our recommended stop-loss: $0.335 (-4.41%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (SSVRF) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Summa Silver Corp. to open at $0.348, and during the day (based on 14 day Average True Range), to move between $0.328 and $0.372, which gives a possible trading interval of +/-$0.0221 (+/-6.32%) up or down from last closing price. If Summa Silver Corp. takes out the full calculated possible swing range there will be an estimated 12.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.367 (4.94%) than the support at $0.319 (8.80%), 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 Summa Silver Corp. stock A Buy?
Summa Silver Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.519 Hold/Accumulate Unchanged
Predicted Opening Price for Summa Silver Corp. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.348 ( 0.695%) | $0.350 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSVRF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.355 | 1.39% |
| R2 | 0.352 | 0.594% |
| R1 | 0.350 | 0.102% |
| Price | 0.350 | |
| S1 | 0.345 | -1.49% |
| S2 | 0.343 | -1.98% |
| S3 | 0.340 | -2.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.392 | 11.86% |
| R2 | 0.390 | 11.43% |
| R1 | 0.367 | 4.94% |
| Price | 0.350 | |
| S1 | 0.319 | -8.80% |
| S2 | 0.309 | -11.63% |
| S3 | 0.300 | -14.29% |
FAQ
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