Silvercorp Metals Inc Forecast and Stock Analysis
Technical SVM stock analysis for February 15, 2019.
|Shorts||0.14% ( 2019-01-31 )|
Silvercorp Metals Inc gained 5.75% in the last trading day, rising from $2.26 to $2.39 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 3.46% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 312 504 more shares were traded than the day before. In total, 541 666 shares bought and sold for approximately $1.29 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the SVM stock was $2.39. This is 5.75% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 7.17% from a day low at $2.23 to a day high of $2.39.
30 day high of the SVM stock price was $2.39 and low was $1.96.
90 day high was $2.39 and low was $1.83.
52 week high for the Silvercorp Metals Inc - $3.12 and low - $1.83.
Silvercorp Metals Inc lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.29% during the next 3 months and, with 90% probability hold a price between $2.51 and $2.96 at the end of this period.
Only positive signals in the chart today. Silvercorp Metals Inc holds buy signals from both short- and long-term moving averages. In addition, 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 $2.28 and $2.21. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday February 13, 2019, which indicates further gains until a new top pivot has been found. Silvercorp Metals Inc has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $2.05 and $2.02.
There is 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, Silvercorp Metals Inc finds support just below today's level at $2.05. If this is broken, then the next support from accumulated volume will be at $2.02 and $2.00.
This stock may move much during a 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 $0.16 between high and low, or 7.17%. For the last week, the stock has had a daily average volatility of 4.22%.
Our recommended stoploss: $2.29 (-4.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
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Evaluation: Strong Buy Candidate
Silvercorp Metals Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.