SILVERCORP METALS INC. - Daily - Technical analysis published on 11/03/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
39%
22%
39%
My opinion
Bearish under 2.40 USD
My targets
2.28 USD (-2.98%)
2.04 USD (-13.19%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on SILVERCORP METALS INC.. As long as you are under the resistance located at 2.40 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 2.28 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 2.04 USD as an objective. If the resistance 2.40 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
2
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SILVERCORP METALS INC. rating 2.35 USD. The price registered an increase of +7.31% on the session and was between 2.17 USD and 2.35 USD. This implies that the price is at +8.29% from its lowest and at 0% from its highest.2.17
2.35
2.35
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of SILVERCORP METALS INC. indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
In fact, of the 18 technical indicators analysed by Central Analyzer, 7 are bullish, 7 are neutral and 4 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 2.04 | 2.35 | 2.40 | 2.76 | 2.94 |
| Change (%) | -13.19% | - | +2.13% | +17.45% | +25.11% |
| Change | -0.31 | - | +0.05 | +0.41 | +0.59 |
| Level | Intermediate | - | Minor | Minor | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.02 | 2.07 | 2.13 | 2.18 | 2.24 | 2.29 | 2.35 |
| Camarilla | 2.16 | 2.17 | 2.18 | 2.19 | 2.20 | 2.21 | 2.22 |
| Woodie | 2.03 | 2.07 | 2.14 | 2.18 | 2.25 | 2.29 | 2.36 |
| Fibonacci | 2.07 | 2.11 | 2.14 | 2.18 | 2.22 | 2.25 | 2.29 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.99 | 2.09 | 2.19 | 2.29 | 2.39 | 2.49 | 2.59 |
| Camarilla | 2.25 | 2.26 | 2.28 | 2.30 | 2.32 | 2.34 | 2.36 |
| Woodie | 2.00 | 2.09 | 2.20 | 2.29 | 2.40 | 2.49 | 2.60 |
| Fibonacci | 2.09 | 2.16 | 2.21 | 2.29 | 2.36 | 2.41 | 2.49 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.79 | 1.98 | 2.09 | 2.28 | 2.39 | 2.58 | 2.69 |
| Camarilla | 2.12 | 2.15 | 2.17 | 2.20 | 2.23 | 2.26 | 2.28 |
| Woodie | 1.75 | 1.96 | 2.05 | 2.26 | 2.35 | 2.56 | 2.65 |
| Fibonacci | 1.98 | 2.10 | 2.17 | 2.28 | 2.40 | 2.47 | 2.58 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 51.84 | |
| MACD (12,26,9): | -0.0400 | |
| Directional Movement: | -1.18 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 2.24 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.38 | |
| Elder Ray (13): | -0.02 | |
| Super Trend (3,10): | 2.47 | |
| Zig ZAG (10): | 2.34 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 35.77 | |
| TEMA (21): | 2.26 | |
| Williams %R (14): | -36.62 | |
| Chande Momentum Oscillator (20): | -0.04 | |
| Repulse (5,40,3): | 8.4300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2400 | |
| Courbe Coppock: | 5.66 |
| MA7: | 2.25 | |
| MA20: | 2.30 | |
| MA50: | 2.39 | |
| MA100: | 2.62 | |
| MAexp7: | 2.26 | |
| MAexp20: | 2.30 | |
| MAexp50: | 2.41 | |
| MAexp100: | 2.60 | |
| Price / MA7: | +4.44% | |
| Price / MA20: | +2.17% | |
| Price / MA50: | -1.67% | |
| Price / MA100: | -10.31% | |
| Price / MAexp7: | +3.98% | |
| Price / MAexp20: | +2.17% | |
| Price / MAexp50: | -2.49% | |
| Price / MAexp100: | -9.62% |
Quotes :
-
15 min delayed data
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NYSE MKT Stocks
News
The last news published on SILVERCORP METALS INC. at the time of the generation of this analysis was as follows:
- Silvercorp Reports Net Income of $8.4 Million, $0.05 Per Share, and Cash Flow from Operations of $23.9 Million for Q3 Fiscal 2021
- Silvercorp Subsidiary Acquires the La Yesca Silver Project, Nayarit State, Mexico
- Silvercorp Won Auction To Acquire the Zhonghe Silver Project in Luoning County, Henan Province, China
- Silvercorp Reports Operational Results and the Financial Results Release Date for the Third Quarter of Fiscal 2021
- Silvercorp Intersects a 1.58 Metre Interval Grading 17.08 g/t Gold, 301 g/t Silver and 18.66% Lead in a New Vein at the HPG Mine, Ying Mining District, China
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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