Silvercorp Metals Inc Stock Forecast
Big movements in Silvercorp Metals Inc stock price on Friday moving 10.09% between high and low
(Updated on Apr 26, 2024)
The Silvercorp Metals Inc stock price fell by -6.76% on the last day (Friday, 26th Apr 2024) from $3.55 to $3.31. During the last trading day the stock fluctuated 10.09% from a day low at $3.27 to a day high of $3.60. The price has fallen in 6 of the last 10 days and is down by -6.23% for this period. Volume has increased on the last day by 4 million 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, 5 million shares were bought and sold for approximately $15.73 million.
Given the current short-term trend, the stock is expected to rise 66.52% during the next 3 months and, with a 90% probability hold a price between $5.51 and $6.98 at the end of this 3-month period.
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SVM 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. On corrections up, there will be some resistance from the lines at $3.49 and $3.33. 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 -14.47%. 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 Silvercorp Metals Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.07 and $3.05. 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, Silvercorp Metals Inc finds support just below today's level at $3.07. If this is broken, then the next support from accumulated volume will be at $3.05 and $2.49.
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 $0.330 between high and low, or 10.09%. For the last week, the stock has had daily average volatility of 8.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SVM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Silvercorp Metals Inc to open at $3.39, and during the day (based on 14 day Average True Range), to move between $3.10 and $3.52, which gives a possible trading interval of +/-$0.209 (+/-6.30%) up or down from last closing price. If Silvercorp Metals Inc takes out the full calculated possible swing range there will be an estimated 12.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.53 (6.65%) than the support at $3.07 (7.25%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -5.272 Strong Sell Candidate Downgraded
Predicted Opening Price for Silvercorp Metals Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $3.39 ( 2.52%) | $3.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SVM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.72 | 12.49 % | |
| R2 | 3.60 | 8.68 % | ||
| R1 | 3.52 | 6.33 % | ||
| Current price: | 3.31 | |||
| Support | S1 | 3.27 | -1.29 % | |
| S2 | 3.19 | -3.64 % | ||
| S3 | 3.06 | -7.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.76 | 13.60 % | |
| R2 | 3.69 | 11.48 % | ||
| R1 | 3.53 | 6.65 % | ||
| Current price | 3.31 | |||
| Support | S1 | 3.07 | -7.25% | |
| S2 | 3.05 | -7.85% | ||
| S3 | 2.49 | -24.77% |
SVM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 09, 2023 | Nov 24, 2023 | Dec 15, 2023 | $0.0125 | 0.453% |
| 2 | Nov 09, 2023 | Nov 22, 2023 | Dec 15, 2023 | $0.0125 | 0.453% |
| 3 | May 26, 2023 | Jun 09, 2023 | Jun 29, 2023 | $0.0130 | 0.459% |
| 4 | Nov 25, 2022 | Nov 25, 2022 | Dec 16, 2022 | $0.0130 | 0.433% |
| 5 | May 25, 2022 | Jun 03, 2022 | Jun 24, 2022 | $0.0130 | 0.476% |
FAQ
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