Silvercorp Metals Inc Forecast and Stock Analysis
Technical SVM stock analysis for April 24, 2019.
|Shorts||0.38% ( 2019-03-29 )|
Silvercorp Metals Inc gained 1.82% in the last trading day, rising from $2.20 to $2.24 The price has fallen in 8 of the last 10 days and is down by -13.18% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 23 059 more shares were traded than the day before. In total, 314 861 shares bought and sold for approximately $705 289.00.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the SVM stock was $2.24. This is 1.82% more than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 6.02% from a day low at $2.16 to a day high of $2.29.
30 day high of the SVM stock price was $2.74 and low was $2.16.
90 day high was $2.80 and low was $2.04.
52 week high for the Silvercorp Metals Inc - $3.12 and low - $1.83.
Silvercorp Metals Inc lies in the lower part of a very wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $2.20 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.09% during the next 3 months and, with 90% probability hold a price between $2.34 and $2.99 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday April 23, 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Silvercorp Metals Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $2.31 and $2.52. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 40 and the stock is currently not being overbought or oversold
Support & Resistance
Silvercorp Metals Inc finds support from accumulated volume at $2.21.
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 $0.13 between high and low, or 6.02%. For the last week, the stock has had a daily average volatility of 4.51%.
Our recommended stoploss: $2.10 (-6.17%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
Very Low Low Medium High Very High
Silvercorp Metals Inc holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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|SVM $2.24 ($0.04 1.82%)|
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