Santacruz Silver Mining Ltd. Stock Forecast
Big movements in Santacruz Silver Mining Ltd. stock price on Friday moving 19.32% between high and low
(Updated on May 10, 2024)
The Santacruz Silver Mining Ltd. stock price gained 5.85% on the last trading day (Friday, 10th May 2024), rising from $0.268 to $0.284. During the last trading day the stock fluctuated 19.32% from a day low at $0.251 to a day high of $0.300. The price has been going up and down for this period, and there has been a 18.83% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 53 thousand more shares were traded than the day before. In total, 237 thousand shares were bought and sold for approximately $67.33 thousand.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.280, a level that may pose a second chance to hit a runner. According to fan-theory $0.349 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SZSMF Signals & Forecast
Mostly positive signals in the chart today. The Santacruz Silver Mining Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.234 and $0.216. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 42.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Santacruz Silver Mining Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Santacruz Silver Mining Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.247 and $0.226. 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, Santacruz Silver Mining Ltd. finds support just below today's level at $0.247. If this is broken, then the next support from accumulated volume will be at $0.226 and $0.215.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0485 between high and low, or 19.32%. For the last week, the stock has had daily average volatility of 18.98%.
Our recommended stop-loss: $0.274 (-3.68%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (SZSMF) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Santacruz Silver Mining Ltd. to open at $0.278, and during the day (based on 14 day Average True Range), to move between $0.252 and $0.316, which gives a possible trading interval of +/-$0.0315 (+/-11.10%) up or down from last closing price. If Santacruz Silver Mining Ltd. takes out the full calculated possible swing range there will be an estimated 22.19% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.247, some $0.0375 (13.20%) from the current price of $0.284, our system finds the risk reward attractive.
Is Santacruz Silver Mining Ltd. stock A Buy?
Santacruz Silver Mining Ltd. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.050 Strong Buy Candidate Unchanged
Predicted Opening Price for Santacruz Silver Mining Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.278 ( 2.05%) | $0.284 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SZSMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.327 | 15.02 % | |
| R2 | 0.308 | 8.50 % | ||
| R1 | 0.297 | 4.47 % | ||
| Current price: | 0.284 | |||
| Support | S1 | 0.260 | -8.58 % | |
| S2 | 0.248 | -12.61 % | ||
| S3 | 0.230 | -19.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.284 | |||
| Support | S1 | 0.247 | -13.20% | |
| S2 | 0.226 | -20.42% | ||
| S3 | 0.215 | -24.30% |
FAQ
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