First Majestic Silver Corp. Stock Forecast
First Majestic Silver Corp. stock price up 1.72% on Thursday
(Updated on Apr 25, 2024)
The First Majestic Silver Corp. stock price gained 1.72% on the last trading day (Thursday, 25th Apr 2024), rising from $9.31 to $9.47. During the last trading day the stock fluctuated 4.70% from a day low at $9.14 to a day high of $9.57. The price has fallen in 7 of the last 10 days and is down by -13.04% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 255 thousand more shares were traded than the day before. In total, 900 thousand shares were bought and sold for approximately $8.52 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 64.82% during the next 3 months and, with a 90% probability hold a price between $14.37 and $19.53 at the end of this 3-month period.
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FR.TO 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 $9.30 and $8.71. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -13.52%. 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).
Support, Risk & Stop-loss for First Majestic Silver Corp. stock
First Majestic Silver Corp. finds support from accumulated volume at $9.46 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 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 $0.430 between high and low, or 4.70%. For the last week, the stock has had daily average volatility of 5.15%.
Our recommended stop-loss: $8.87 (-6.38%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (FR.TO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect First Majestic Silver Corp. to open at $9.39, and during the day (based on 14 day Average True Range), to move between $8.91 and $10.03, which gives a possible trading interval of +/-$0.561 (+/-5.92%) 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 11.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.46 (0.11%) than the resistance at $10.17 (7.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
First Majestic Silver Corp. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0400. We will update the financials statements for First Majestic Silver Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.27% in the first trading day after earnings release.
Is First Majestic Silver Corp. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Majestic Silver Corp. stock to perform well in the short-term.
Current score: 2.006 Buy Candidate Unchanged
Predicted Opening Price for First Majestic Silver Corp. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $9.39 ( 0.81%) | $9.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FR.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.82 | 3.73 % | |
| R2 | 9.66 | 2.00 % | ||
| R1 | 9.56 | 0.92 % | ||
| Current price: | 9.47 | |||
| Support | S1 | 9.23 | -2.54 % | |
| S2 | 9.13 | -3.62 % | ||
| S3 | 8.96 | -5.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.37 | 9.50 % | |
| R2 | 10.18 | 7.50 % | ||
| R1 | 10.17 | 7.39 % | ||
| Current price | 9.47 | |||
| Support | S1 | 9.46 | -0.106% | |
| S2 | 9.42 | -0.528% | ||
| S3 | 9.31 | -1.69% |
FR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.0060 | 0.0755% |
| 2 | Nov 02, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.0060 | 0.0740% |
| 3 | Aug 03, 2023 | Aug 15, 2023 | Aug 31, 2023 | $0.0070 | 0.0844% |
| 4 | May 04, 2023 | May 17, 2023 | Jun 09, 2023 | $0.0080 | 0.105% |
| 5 | Feb 23, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.0070 | 0.0780% |
FAQ
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