SSR Mining Inc Stock Forecast
SSR Mining Inc stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The SSR Mining Inc stock price gained 2.95% on the last trading day (Tuesday, 23rd Apr 2024), rising from $7.12 to $7.33. During the last trading day the stock fluctuated 7.29% from a day low at $7.00 to a day high of $7.51. The price has risen in 6 of the last 10 days and is up by 5.32% over the past 2 weeks. Volume fell on the last day by -111 thousand shares and in total, 419 thousand shares were bought and sold for approximately $3.07 million. 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 stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $8.33 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -41.88% during the next 3 months and, with a 90% probability hold a price between $1.67 and $4.84 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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SSRM.TO Signals & Forecast
Mostly positive signals in the chart today. The SSR Mining Inc 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 $7.13 and $6.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 35.74%. 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 stock should be watched closely.
Support, Risk & Stop-loss for SSR Mining Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.48 and $6.08. 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, SSR Mining Inc finds support just below today's level at $6.48. If this is broken, then the next support from accumulated volume will be at $6.08 and $6.02.
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 $0.510 between high and low, or 7.29%. For the last week, the stock has had daily average volatility of 5.37%.
Our recommended stop-loss: $7.10 (-3.10%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (SSRM.TO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect SSR Mining Inc to open at $7.28, and during the day (based on 14 day Average True Range), to move between $6.96 and $7.70, which gives a possible trading interval of +/-$0.375 (+/-5.11%) up or down from last closing price. If SSR Mining Inc takes out the full calculated possible swing range there will be an estimated 10.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.34 (0.14%) than the support at $6.48 (11.60%), 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 SSR Mining Inc 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 Hold/Accumulate to a Buy candidate.
Current score: 3.895 Buy Candidate Upgraded
Predicted Opening Price for SSR Mining Inc of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$7.28 ( 0.682%) | $7.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSRM.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.79 | 6.28 % | |
R2 | 7.60 | 3.62 % | ||
R1 | 7.47 | 1.98 % | ||
Current price: | 7.33 | |||
Support | S1 | 7.09 | -3.34 % | |
S2 | 6.96 | -4.98 % | ||
S3 | 6.77 | -7.64 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 7.34 | 0.136 % | ||
Current price | 7.33 | |||
Support | S1 | 6.48 | -11.60% | |
S2 | 6.08 | -17.05% | ||
S3 | 6.02 | -17.87% |
SSRM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 09, 2023 | Nov 10, 2023 | Dec 11, 2023 | $0.0700 | 0.478% |
2 | Nov 09, 2023 | Nov 09, 2023 | Dec 11, 2023 | $0.0700 | 0.478% |
3 | Aug 11, 2023 | Aug 11, 2023 | Sep 11, 2023 | $0.0700 | 0.349% |
4 | May 12, 2023 | May 12, 2023 | Jun 12, 2023 | $0.0700 | 0.366% |
5 | Mar 02, 2023 | Mar 02, 2023 | Mar 30, 2023 | $0.0700 | 0.340% |
FAQ
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