Silvercorp Metals Inc. Stock Forecast
Green day on Friday for Silvercorp Metals Inc.
(Updated on May 03, 2024)
The Silvercorp Metals Inc. stock price gained 0.222% on the last trading day (Friday, 3rd May 2024), rising from $4.50 to $4.51. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.17% from a day low at $4.41 to a day high of $4.55. The price has risen in 6 of the last 10 days but is still down by -8.52% for this period. Volume fell on the last day by -212 thousand shares and in total, 209 thousand shares were bought and sold for approximately $943.95 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.48 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 60.24% during the next 3 months and, with a 90% probability hold a price between $7.17 and $9.42 at the end of this 3-month period.
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SVM.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Silvercorp Metals 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 $4.53 and $4.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -14.42%. 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 also not.
Support, Risk & Stop-loss for Silvercorp Metals Inc. stock
Silvercorp Metals Inc. finds support from accumulated volume at $4.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.140 between high and low, or 3.17%. For the last week the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SVM.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Silvercorp Metals Inc. to open at $4.49, and during the day (based on 14 day Average True Range), to move between $4.27 and $4.75, which gives a possible trading interval of +/-$0.243 (+/-5.39%) up or down from last closing price. If Silvercorp Metals Inc. takes out the full calculated possible swing range there will be an estimated 10.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.52 (0.22%) than the support at $4.41 (2.22%), 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 Silvercorp Metals Inc. stock A Buy?
The Silvercorp Metals Inc. stock holds several negative signals and despite the positive trend, we believe Silvercorp Metals Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.006 Sell Candidate Unchanged
Predicted Opening Price for Silvercorp Metals Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $4.49 ( 0.443%) | $4.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SVM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.63 | 2.66 % | |
| R2 | 4.58 | 1.47 % | ||
| R1 | 4.54 | 0.742 % | ||
| Current price: | 4.51 | |||
| Support | S1 | 4.44 | -1.63 % | |
| S2 | 4.40 | -2.36 % | ||
| S3 | 4.35 | -3.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.02 | 11.31 % | |
| R2 | 4.82 | 6.87 % | ||
| R1 | 4.52 | 0.222 % | ||
| Current price | 4.51 | |||
| Support | S1 | 4.41 | -2.22% | |
| S2 | 4.37 | -3.10% | ||
| S3 | 4.18 | -7.32% |
SVM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 23, 2023 | Nov 23, 2023 | Dec 15, 2023 | $0.0170 | 0.461% |
| 2 | Nov 09, 2023 | Nov 22, 2023 | Dec 15, 2023 | $0.0170 | 0.461% |
| 3 | May 26, 2023 | Jun 09, 2023 | Jun 29, 2023 | $0.0170 | 0.456% |
| 4 | Nov 24, 2022 | Nov 24, 2022 | Dec 16, 2022 | $0.0170 | 0.408% |
| 5 | May 27, 2022 | Jun 03, 2022 | Jun 24, 2022 | $0.0160 | 0.458% |
FAQ
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