Zacatecas Silver Corp. Stock Forecast
High volatility in Zacatecas Silver Corp. stock price on Friday which ended trading at $0.149
(Updated on May 10, 2024)
The Zacatecas Silver Corp. stock price fell by -0.369% on the last day (Friday, 10th May 2024) from $0.149 to $0.149. During the last trading day the stock fluctuated 24.71% from a day low at $0.129 to a day high of $0.161. The price has risen in 7 of the last 10 days and is up by 23.92% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -14 thousand shares and in total, 18 thousand shares were bought and sold for approximately $2.71 thousand.
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 $0.134 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 58.57% during the next 3 months and, with a 90% probability hold a price between $0.212 and $0.366 at the end of this 3-month period.
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ZCTSF Signals & Forecast
The Zacatecas Silver Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.145 and $0.148. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -27.39%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Zacatecas Silver Corp. stock
Zacatecas Silver Corp. finds support from accumulated volume at $0.146 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0318 between high and low, or 24.71%. For the last week the stock has had daily average volatility of 11.72%.
Our recommended stop-loss: $0.142 (-4.57%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (ZCTSF) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Zacatecas Silver Corp. to open at $0.146, and during the day (based on 14 day Average True Range), to move between $0.131 and $0.167, which gives a possible trading interval of +/-$0.0180 (+/-12.13%) up or down from last closing price. If Zacatecas Silver Corp. takes out the full calculated possible swing range there will be an estimated 24.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.150 (0.87%) than the support at $0.146 (2.08%), 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 Zacatecas Silver Corp. stock A Buy?
Zacatecas Silver Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: -0.358 Hold/Accumulate Downgraded
Predicted Opening Price for Zacatecas Silver Corp. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.146 ( 1.84%) | $0.149 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZCTSF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.178 | 19.55 % | |
| R2 | 0.166 | 11.38 % | ||
| R1 | 0.158 | 6.33 % | ||
| Current price: | 0.149 | |||
| Support | S1 | 0.134 | -10.01 % | |
| S2 | 0.126 | -15.05 % | ||
| S3 | 0.114 | -23.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.175 | 17.69 % | |
| R2 | 0.159 | 6.59 % | ||
| R1 | 0.150 | 0.87 % | ||
| Current price | 0.149 | |||
| Support | S1 | 0.146 | -2.08% | |
| S2 | 0.139 | -6.52% | ||
| S3 | 0.120 | -19.30% |
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