Silver Bull Resources Inc Stock Forecast
Red day on Friday for Silver Bull Resources Inc stock after losing 0%
(Updated on May 03, 2024)
No changes to the price of Silver Bull Resources Inc stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.110 to a day high of $0.110. The price has fallen in 4 of the last 10 days and is down by -8.1% for this period.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.110 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Silver Bull Resources Inc stock with a 90% probability to be traded between $0.108 and $0.136 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SVBL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Silver Bull Resources Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.115 and $0.125. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Silver Bull Resources Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SVBL) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Silver Bull Resources Inc to open at $0.110, and during the day (based on 14 day Average True Range), to move between $0.104 and $0.116, which gives a possible trading interval of +/-$0.0061 (+/-5.56%) up or down from last closing price. If Silver Bull Resources Inc takes out the full calculated possible swing range there will be an estimated 11.12% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.129, some $0.0187 (17.00%) from the current price of $0.110, our system finds the risk reward not very attractive.
Is Silver Bull Resources Inc stock A Buy?
Silver Bull Resources 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.
Current score: -3.106 Sell Candidate Unchanged
Predicted Opening Price for Silver Bull Resources Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.110 ( 0%) | $0.110 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SVBL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.110 | . | |
| R2 | 0.110 | . | ||
| R1 | 0.110 | . | ||
| Current price: | 0.110 | |||
| Support | S1 | 0.110 | . | |
| S2 | 0.110 | . | ||
| S3 | 0.110 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.137 | 24.27 % | |
| R2 | 0.130 | 18.18 % | ||
| R1 | 0.129 | 17.00 % | ||
| Current price | 0.110 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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