Silvercorp Metals Inc Stock Forecast
Green day on Thursday for Silvercorp Metals Inc stock after gaining 2.31%
(Updated on Apr 25, 2024)
The Silvercorp Metals Inc stock price gained 2.31% on the last trading day (Thursday, 25th Apr 2024), rising from $3.47 to $3.55. During the last trading day the stock fluctuated 5.33% from a day low at $3.38 to a day high of $3.56. The price has fallen in 6 of the last 10 days and is down by -6.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 179 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $3.78 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.44 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 68.03% during the next 3 months and, with a 90% probability hold a price between $5.78 and $7.01 at the end of this 3-month period.
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SVM Signals & Forecast
The Silvercorp Metals 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 $3.53 and $3.31. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -8.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Silvercorp Metals Inc stock
Silvercorp Metals Inc finds support from accumulated volume at $3.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.180 between high and low, or 5.33%. For the last week, the stock has had daily average volatility of 7.03%.
Our recommended stop-loss: $3.35 (-5.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (SVM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Silvercorp Metals Inc to open at $3.50, and during the day (based on 14 day Average True Range), to move between $3.35 and $3.75, which gives a possible trading interval of +/-$0.199 (+/-5.61%) up or down from last closing price. If Silvercorp Metals Inc takes out the full calculated possible swing range there will be an estimated 11.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.53 (0.56%) than the resistance at $3.69 (3.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Silvercorp Metals Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Silvercorp Metals Inc stock to perform well in the short-term.
Current score: 2.021 Buy Candidate Unchanged
Predicted Opening Price for Silvercorp Metals Inc of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$3.50 ( 1.50%) | $3.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SVM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.68 | 3.57 % | |
R2 | 3.61 | 1.63 % | ||
R1 | 3.57 | 0.435 % | ||
Current price: | 3.55 | |||
Support | S1 | 3.43 | -3.44 % | |
S2 | 3.39 | -4.64 % | ||
S3 | 3.32 | -6.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.76 | 5.92 % | |
R2 | 3.70 | 4.23 % | ||
R1 | 3.69 | 3.94 % | ||
Current price | 3.55 | |||
Support | S1 | 3.53 | -0.563% | |
S2 | 3.07 | -13.52% | ||
S3 | 3.05 | -14.08% |
SVM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 09, 2023 | Nov 24, 2023 | Dec 15, 2023 | $0.0125 | 0.453% |
2 | Nov 09, 2023 | Nov 22, 2023 | Dec 15, 2023 | $0.0125 | 0.453% |
3 | May 26, 2023 | Jun 09, 2023 | Jun 29, 2023 | $0.0130 | 0.459% |
4 | Nov 25, 2022 | Nov 25, 2022 | Dec 16, 2022 | $0.0130 | 0.433% |
5 | May 25, 2022 | Jun 03, 2022 | Jun 24, 2022 | $0.0130 | 0.476% |
FAQ
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