Pan American Silver Corp. Stock Forecast

Green day on Thursday for Pan American Silver Corp. stock after gaining 0.767%
(Updated on Apr 18, 2024)

PAAS.TO Signals & Forecast

The Pan American Silver Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $26.26. On a fall, the stock will find some support from the long-term average at approximately $21.18. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Thursday, April 11, 2024, and so far it has fallen -2.01%. Further fall is indicated until a new bottom pivot has been found.

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

Pan American Silver Corp. finds support from accumulated volume at $26.21 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.665 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 4.70%.

The Pan American Silver Corp. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $25.23 (-3.90%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (PAAS.TO) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Pan American Silver Corp. to open at $26.20, and during the day (based on 14 day Average True Range), to move between $25.26 and $27.26, which gives a possible trading interval of +/-$1.00 (+/-3.80%) up or down from last closing price. If Pan American Silver Corp. takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $26.30 (0.15%) than the support at $26.21 (0.19%), 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 Pan American 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 Pan American Silver Corp. stock to perform well in the short-term.

Current score: 1.812 Buy Candidate Unchanged

Predicted Opening Price for Pan American Silver Corp. of Friday, April 19, 2024

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