First Majestic Silver Corp Stock Forecast
First Majestic Silver Corp stock price up more than 5.38% on Thursday
(Updated on Mar 28, 2024)
The First Majestic Silver Corp stock price gained 5.38% on the last trading day (Thursday, 28th Mar 2024), rising from $5.58 to $5.88. During the last trading day the stock fluctuated 6.46% from a day low at $5.57 to a day high of $5.93. The price has fallen in 6 of the last 10 days but is still up by 8.89% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $49.52 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $6.21 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect First Majestic Silver Corp stock with a 90% probability to be traded between $4.28 and $6.26 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AG Signals & Forecast
The First Majestic Silver Corp 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 $5.48 and $4.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 39.67%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for First Majestic Silver Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.31 and $4.65. 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, First Majestic Silver Corp finds support just below today's level at $5.31. If this is broken, then the next support from accumulated volume will be at $4.65 and $4.59.
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 $0.360 between high and low, or 6.46%. For the last week, the stock has had daily average volatility of 5.17%.
Our recommended stop-loss: $5.66 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (AG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Majestic Silver Corp to open at $5.79, and during the day (based on 14 day Average True Range), to move between $5.61 and $6.15, which gives a possible trading interval of +/-$0.270 (+/-4.59%) up or down from last closing price. If First Majestic Silver Corp takes out the full calculated possible swing range there will be an estimated 9.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.98 (1.70%) than the support at $5.31 (9.69%), 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 First Majestic Silver Corp stock A Buy?
First Majestic Silver Corp holds several positive signals and is considered to be a good choice at current levels. We expect the First Majestic Silver Corp stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.687 Strong Buy Candidate Upgraded
Predicted Opening Price for First Majestic Silver Corp of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$5.79 ( 1.47%) | $5.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.15 | 4.65 % | |
R2 | 6.02 | 2.31 % | ||
R1 | 5.93 | 0.86 % | ||
Current price: | 5.88 | |||
Support | S1 | 5.66 | -3.81 % | |
S2 | 5.57 | -5.26 % | ||
S3 | 5.43 | -7.60 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 6.15 | 4.59 % | ||
R1 | 5.98 | 1.70 % | ||
Current price | 5.88 | |||
Support | S1 | 5.31 | -9.69% | |
S2 | 4.65 | -20.92% | ||
S3 | 4.59 | -21.94% |
AG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.0048 | 0.0817% |
2 | Nov 14, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.0046 | 0.0771% |
3 | Aug 03, 2023 | Aug 15, 2023 | Aug 31, 2023 | $0.0051 | 0.0832% |
4 | May 04, 2023 | May 17, 2023 | Jun 09, 2023 | $0.0060 | 0.105% |
5 | Feb 23, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.0050 | 0.0763% |
FAQ
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