iShares Silver Trust ETF Forecast

$22.75
+0.240 (+1.07%)
At Close: Mar 28, 2024
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 SLV
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iShares Silver Trust ETF upgraded to Buy Candidate.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 06, 2024 Gain 2.94% PDF

The iShares Silver Trust ETF price gained 1.07% on the last trading day (Thursday, 28th Mar 2024), rising from $22.51 to $22.75. During the last trading day the ETF fluctuated 1.72% from a day low at $22.42 to a day high of $22.80. The price has been going up and down for this period, and there has been a 0.09% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 million more shares were traded than the day before. In total, 29 million shares were bought and sold for approximately $658.85 million.

The ETF lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 8.88% during the next 3 months and, with a 90% probability hold a price between $23.05 and $25.56 at the end of this 3-month period.

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SLV Signals & Forecast

The iShares Silver Trust ETF 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 $22.67 and $21.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 1.84%. 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).

Buy
Special Signal Notification

Double Bottom Formation

Double Bottom Formation A buy signal from a double bottom formation was found on Tuesday, February 13, 2024 with a target of $21.47. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.

Support, Risk & Stop-loss for iShares Silver Trust ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $21.21 and $20.94. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, iShares Silver Trust finds support just below today's level at $21.21. If this is broken, then the next support from accumulated volume will be at $20.94 and $20.82.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.385 between high and low, or 1.72%. For the last week, the ETF has had daily average volatility of 1.25%.

Our recommended stop-loss: $21.57 (-5.20%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (SLV) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect iShares Silver Trust to open at $22.66, and during the day (based on 14 day Average True Range), to move between $22.35 and $23.15, which gives a possible trading interval of +/-$0.396 (+/-1.74%) up or down from last closing price. If iShares Silver Trust takes out the full calculated possible swing range there will be an estimated 3.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.79 (0.18%) than the support at $21.21 (6.77%), 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 iShares Silver Trust ETF 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 iShares Silver Trust ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.183 Buy Candidate Upgraded

Predicted Opening Price for iShares Silver Trust of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$22.66 ( 0.418%) $22.75

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

Trading levels for SLV

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 23.04 1.27 %
R2 22.89 0.628 %
R1 22.80 0.229 %
Current price: 22.75
Support S1 22.51 -1.06 %
S2 22.42 -1.46 %
S3 22.27 -2.11 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 23.29 2.37 %
R2 23.03 1.23 %
R1 22.79 0.176 %
Current price 22.75
Support S1 21.21 -6.77%
S2 20.94 -7.96%
S3 20.82 -8.48%

FAQ

What is the symbol for iShares Silver Trust ETF and on which exchange is it traded?
The symbol for iShares Silver Trust is SLV and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell iShares Silver Trust ETF?
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 iShares Silver Trust ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

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

What's the current price of iShares Silver Trust ETF?
As of the end of day on the 2024-03-28, the price of an iShares Silver Trust (SLV) share was $22.75.

What is the 52-week high and low for iShares Silver Trust ETF?
The 52-week high for iShares Silver Trust ETF is $23.94 and the 52-week low is $18.98.

What is the market capitalization of iShares Silver Trust ETF?
As of the 2024-03-28, the market capitalization of iShares Silver Trust is 7.768B.
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About iShares Silver Trust

The Trust seeks to reflect such performance before payment of the Trust's expenses and liabilities. It is not actively managed. The Trust does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of silver.... SLV Profile

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