iShares Silver Trust ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
iShares Silver Trust ETF upgraded from Buy Candidate to Strong Buy Candidate after Monday trading session.
(Updated on Apr 15, 2024)
The iShares Silver Trust ETF price gained 3.04% on the last trading day (Monday, 15th Apr 2024), rising from $25.63 to $26.41. During the last trading day the ETF fluctuated 2.84% from a day low at $25.69 to a day high of $26.42. The price has risen in 7 of the last 10 days and is up by 15.53% over the past 2 weeks. Volume fell on the last day by -66 million shares and in total, 51 million shares were bought and sold for approximately $1.36 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $24.64, a level that may pose a second chance to hit a runner.
SLV Signals & Forecast
Mostly positive signals in the chart today. 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 $25.66 and $23.05. 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 18.22%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for iShares Silver Trust ETF
iShares Silver Trust finds support from accumulated volume at $25.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.730 between high and low, or 2.84%. For the last week, the ETF has had daily average volatility of 3.67%.
The iShares Silver Trust ETF is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.
Our recommended stop-loss: $25.65 (-2.88%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SLV) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect iShares Silver Trust to open at $26.17, and during the day (based on 14 day Average True Range), to move between $25.76 and $27.06, which gives a possible trading interval of +/-$0.654 (+/-2.47%) up or down from last closing price. If iShares Silver Trust takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $25.63, some $0.780 (2.95%) from the current price of $26.41, our system finds the risk reward attractive.
Is iShares Silver Trust ETF A Buy?
Several short-term signals are positive and the ETF has broke the rising trend up, which indicates an even stronger rate of rising. 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 period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.125 Strong Buy Candidate Upgraded
Predicted Opening Price for iShares Silver Trust of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $26.17 ( 0.90%) | $26.41 |
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 | 26.90 | 1.87 % | |
| R2 | 26.62 | 0.81 % | ||
| R1 | 26.45 | 0.160 % | ||
| Current price: | 26.41 | |||
| Support | S1 | 25.89 | -1.95 % | |
| S2 | 25.72 | -2.60 % | ||
| S3 | 25.44 | -3.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 26.41 | |||
| Support | S1 | 25.63 | -2.95% | |
| S2 | 24.73 | -6.36% | ||
| S3 | 23.84 | -9.73% |
FAQ
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