SSR Mining Inc Stock Forecast
Green day on Thursday for SSR Mining Inc
(Updated on Apr 18, 2024)
The SSR Mining Inc stock price gained 1.58% on the last trading day (Thursday, 18th Apr 2024), rising from $5.06 to $5.14. During the last trading day the stock fluctuated 3.98% from a day low at $5.03 to a day high of $5.23. The price has risen in 7 of the last 10 days and is up by 8.44% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 209 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $14.80 million.
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 $5.60 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 -49.77% during the next 3 months and, with a 90% probability hold a price between $0.96 and $2.81 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 Signals & Forecast
The SSR Mining Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $5.17. On a fall, the stock will find some support from the long-term average at approximately $4.52. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 29.15%. 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 is rising along with the price. This is considered to be a good technical signal.
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 $4.83 and $4.50. 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 $4.83. If this is broken, then the next support from accumulated volume will be at $4.50 and $4.47.
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 $0.200 between high and low, or 3.98%. For the last week, the stock has had daily average volatility of 5.01%.
Our recommended stop-loss: $4.95 (-3.77%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (SSRM) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect SSR Mining Inc to open at $5.13, and during the day (based on 14 day Average True Range), to move between $4.87 and $5.41, which gives a possible trading interval of +/-$0.266 (+/-5.18%) up or down from last closing price. If SSR Mining Inc takes out the full calculated possible swing range there will be an estimated 10.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.19 (0.97%) than the support at $4.83 (6.03%), 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?
SSR Mining Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.112 Hold/Accumulate Unchanged
Predicted Opening Price for SSR Mining Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.13 ( 0.131%) | $5.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSRM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.33 | 3.76 % | |
| R2 | 5.26 | 2.28 % | ||
| R1 | 5.21 | 1.36 % | ||
| Current price: | 5.14 | |||
| Support | S1 | 5.06 | -1.62 % | |
| S2 | 5.01 | -2.54 % | ||
| S3 | 4.93 | -4.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.34 | 3.89 % | |
| R2 | 5.26 | 2.33 % | ||
| R1 | 5.19 | 0.97 % | ||
| Current price | 5.14 | |||
| Support | S1 | 4.83 | -6.03% | |
| S2 | 4.50 | -12.45% | ||
| S3 | 4.47 | -13.04% |
SSRM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 01, 2023 | Nov 10, 2023 | Dec 11, 2023 | $0.0700 | 0.648% |
| 2 | Nov 01, 2023 | Nov 09, 2023 | Dec 11, 2023 | $0.0700 | 0.648% |
| 3 | Aug 02, 2023 | Aug 11, 2023 | Sep 11, 2023 | $0.0700 | 0.474% |
| 4 | May 04, 2023 | May 12, 2023 | Jun 12, 2023 | $0.0700 | 0.490% |
| 5 | Feb 22, 2023 | Mar 02, 2023 | Mar 30, 2023 | $0.0700 | 0.460% |
FAQ
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