Silver Mines Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Silver Mines Limited
(Updated on May 03, 2024)
No changes to the price of Silver Mines Limited stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 6.25% from a day low at $0.160 to a day high of $0.170. The price has been going up and down for this period, and there has been a -10.81% loss for the last 2 weeks.
Given the current short-term trend, the stock is expected to rise 38.41% during the next 3 months and, with a 90% probability hold a price between $0.228 and $0.297 at the end of this 3-month period.
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SVL.AX Signals & Forecast
Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Silver Mines Limited 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 $0.171 and $0.175. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -17.50%. 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).
Support, Risk & Stop-loss for Silver Mines Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.150 and $0.140. 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 Mines Limited finds support just below today's level at $0.150. If this is broken, then the next support from accumulated volume will be at $0.140 and $0.135.
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 $0.0100 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 6.46%.
Silver Mines Limited is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SVL.AX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Silver Mines Limited to open at $0.165, and during the day (based on 14 day Average True Range), to move between $0.155 and $0.175, which gives a possible trading interval of +/-$0.0103 (+/-6.26%) up or down from last closing price. If Silver Mines Limited takes out the full calculated possible swing range there will be an estimated 12.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.150 (9.09%) than the resistance at $0.190 (15.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Silver Mines Limited stock A Buy?
The Silver Mines Limited stock holds several negative signals and despite the positive trend, we believe Silver Mines Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.753 Sell Candidate Unchanged
Predicted Opening Price for Silver Mines Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.165 ( 0%) | $0.165 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SVL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.175 | 6.06 % | |
| R2 | 0.171 | 3.75 % | ||
| R1 | 0.169 | 2.32 % | ||
| Current price: | 0.165 | |||
| Support | S1 | 0.161 | -2.32 % | |
| S2 | 0.159 | -3.75 % | ||
| S3 | 0.155 | -6.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.200 | 21.21 % | |
| R2 | 0.195 | 18.18 % | ||
| R1 | 0.190 | 15.15 % | ||
| Current price | 0.165 | |||
| Support | S1 | 0.150 | -9.09% | |
| S2 | 0.140 | -15.15% | ||
| S3 | 0.135 | -18.18% |
FAQ
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