VOLUME
Buy
TREND
Buy
MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

SVM Forecast and Technical Stock Analysis

Hold candidate since 2019-07-17 Gain 5.88%

Silvercorp Metals Inc gained 5.88% in the last trading day ( Thursday, 18th Jul 2019 ), rising from $2.89 to $3.06 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During day the stock fluctuated 8.29% from a day low at $2.84 to a day high of $3.07. The price has risen in 8 of the last 10 days and is up by 26.97% 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, 0.42 million more shares were traded than the day before. In total, 1.13 million shares bought and sold for approximately $3.47 million.

Quick summary:

  • 30 day high of the SVM stock price was $3.07 and low was $2.32.
  • 90 day high was $3.07 and low was $2.00.
  • 52 week high for the Silvercorp Metals Inc - $3.07 and low - $1.83.
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Trend

Silvercorp Metals Inc has broken the wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $2.75, a level that may pose a second chance to hit a runner. According to fan-theory $3.19 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.

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Signals

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 $2.69 and $2.42. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday July 08, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

A buy signal from a double bottom formation was found on Monday July 08, 2019 with a target of $2.46. Despite the objective of the signal formation has been reached the stock may continue to perform well.

Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

The stock holds a RSI14 at 80 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.

* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $2.71 and $2.51.

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 $2.71. If this is broken, then the next support from accumulated volume will be at $2.51 and $2.49.

Support: $2.71 Price: $3.06

Risk

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 $0.24 between high and low, or 8.29%. For the last week, the stock has had a daily average volatility of 7.00%.

The stock is extremely overbought on RSI14 (80). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Silvercorp Metals Inc has been rising for 6 days in a row, the risk for the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stoploss: $2.94 (-3.96%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from pivot bottom found 8 days ago.)

7.00 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Hold/Accumulate

Evaluation

Silvercorp Metals Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.

Previous Hold Today SVM ranks #2414 as HOLD CANDIDATE #2414 Next Hold

Will SVM stock price go up or down on Mon, 22 Jul 2019?

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