RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MAG.TO
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A very strong day for MAG Silver Corp. stock price on Wednesday
(Updated on Mar 27, 2024)

Buy candidate since Mar 27, 2024 PDF

The MAG Silver Corp. stock price gained 9.48% on the last trading day (Wednesday, 27th Mar 2024), rising from $12.24 to $13.40. During the last trading day the stock fluctuated 8.15% from a day low at $12.40 to a day high of $13.41. The price has fallen in 6 of the last 10 days but is still up by 7.54% 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, 952 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $17.55 million.

Given the current short-term trend, the stock is expected to fall -6.95% during the next 3 months and, with a 90% probability hold a price between $10.11 and $12.47 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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MAG.TO Signals & Forecast

Mostly positive signals in the chart today. The MAG 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 $12.63 and $12.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 19.75%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for MAG Silver Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $12.28 and $12.26. 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, MAG Silver Corp. finds support just below today's level at $12.28. If this is broken, then the next support from accumulated volume will be at $12.26 and $11.73.

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 $1.01 between high and low, or 8.15%. For the last week, the stock has had daily average volatility of 4.33%.

Our recommended stop-loss: $12.63 (-5.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (MAG.TO) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect MAG Silver Corp. to open at $13.07, and during the day (based on 14 day Average True Range), to move between $12.89 and $13.91, which gives a possible trading interval of +/-$0.511 (+/-3.81%) up or down from last closing price. If MAG Silver Corp. takes out the full calculated possible swing range there will be an estimated 7.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $13.42 (0.15%) than the support at $12.28 (8.36%), 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 MAG Silver Corp. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.761 Buy Candidate Upgraded

Predicted Opening Price for MAG Silver Corp. of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$13.07 ( 2.46%) $13.40

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MAG.TO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 14.08 5.07 %
R2 13.69 2.20 %
R1 13.46 0.417 %
Current price: 13.40
Support S1 12.68 -5.34 %
S2 12.45 -7.12 %
S3 12.06 -10.00 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 13.97 4.25 %
R2 13.79 2.91 %
R1 13.42 0.149 %
Current price 13.40
Support S1 12.28 -8.36%
S2 12.26 -8.51%
S3 11.73 -12.46%

FAQ

What is the symbol for MAG Silver Corp. Stock and on which exchange is it traded?
The symbol for MAG Silver Corp. is MAG.TO and it is traded on the TSX (Toronto Stock Exchange).

Should I buy or sell MAG Silver Corp. Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

How to buy MAG Silver Corp. Stock?
MAG Silver Corp. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy MAG Silver Corp. Stock.

What's the current price of MAG Silver Corp. Stock?
As of the end of day on the 2024-03-27, the price of an MAG Silver Corp. (MAG.TO) share was $13.40.

What is the 52-week high and low for MAG Silver Corp. Stock?
The 52-week high for MAG Silver Corp. Stock is $19.28 and the 52-week low is $11.15.

What is the market capitalization of MAG Silver Corp. Stock?
As of the 2024-03-27, the market capitalization of MAG Silver Corp. is 1.29B.

When is the next earnings date for MAG Silver Corp.?
The upcoming earnings date for MAG Silver Corp. is May 08, 2024.
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About MAG Silver Corp.

MAG Silver . MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company is headquartered in Vancouver, Canada.... MAG.TO Profile

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