SILVERCORP METALS INC. - 1H - Technical analysis published on 02/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 2.31 USD
My targets
2.16 USD (-4.42%)
2.07 USD (-8.41%)
My analysis
The bearish trend is currently very strong for SILVERCORP METALS INC.. As long as the price remains below the resistance at 2.31 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 2.16 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2.07 USD as an objective. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SILVERCORP METALS INC. rating 2.26 USD. The price registered a decrease of -0.44% on the session with the lowest point at 2.24 USD and the highest point at 2.28 USD. The deviation from the price is +0.89% for the low point and -0.88% for the high point.2.24
2.28
2.26
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SILVERCORP METALS INC.:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of SILVERCORP METALS INC. indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 2.07 | 2.25 | 2.26 | 2.31 | 2.36 | 2.46 |
| Change (%) | -8.41% | -0.44% | - | +2.21% | +4.42% | +8.85% |
| Change | -0.19 | -0.01 | - | +0.05 | +0.10 | +0.20 |
| Level | Major | Intermediate | - | Intermediate | Minor | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.00 | 2.11 | 2.19 | 2.30 | 2.38 | 2.49 | 2.57 |
| Camarilla | 2.22 | 2.24 | 2.25 | 2.27 | 2.29 | 2.31 | 2.32 |
| Woodie | 1.99 | 2.10 | 2.18 | 2.29 | 2.37 | 2.48 | 2.56 |
| Fibonacci | 2.11 | 2.18 | 2.23 | 2.30 | 2.37 | 2.42 | 2.49 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.08 | 2.16 | 2.27 | 2.35 | 2.46 | 2.54 | 2.65 |
| Camarilla | 2.33 | 2.35 | 2.36 | 2.38 | 2.40 | 2.42 | 2.43 |
| Woodie | 2.10 | 2.17 | 2.29 | 2.36 | 2.48 | 2.55 | 2.67 |
| Fibonacci | 2.16 | 2.23 | 2.28 | 2.35 | 2.42 | 2.47 | 2.54 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.81 | 2.03 | 2.20 | 2.42 | 2.59 | 2.81 | 2.98 |
| Camarilla | 2.26 | 2.30 | 2.33 | 2.37 | 2.41 | 2.44 | 2.48 |
| Woodie | 1.79 | 2.02 | 2.18 | 2.41 | 2.57 | 2.80 | 2.96 |
| Fibonacci | 2.03 | 2.18 | 2.27 | 2.42 | 2.57 | 2.66 | 2.81 |
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): | 38.72 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | -14.08 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 2.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.45 | |
| Elder Ray (13): | -0.08 | |
| Super Trend (3,10): | 2.38 | |
| Zig ZAG (10): | 2.26 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 5.21 | |
| TEMA (21): | 2.30 | |
| Williams %R (14): | -87.50 | |
| Chande Momentum Oscillator (20): | -0.20 | |
| Repulse (5,40,3): | -1.7100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0600 | |
| Courbe Coppock: | 8.60 |
| MA7: | 2.32 | |
| MA20: | 2.36 | |
| MA50: | 2.53 | |
| MA100: | 2.42 | |
| MAexp7: | 2.29 | |
| MAexp20: | 2.34 | |
| MAexp50: | 2.35 | |
| MAexp100: | 2.36 | |
| Price / MA7: | -2.59% | |
| Price / MA20: | -4.24% | |
| Price / MA50: | -10.67% | |
| Price / MA100: | -6.61% | |
| Price / MAexp7: | -1.31% | |
| Price / MAexp20: | -3.42% | |
| Price / MAexp50: | -3.83% | |
| Price / MAexp100: | -4.24% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
Don't forget to follow the news on SILVERCORP METALS INC.. At the time of publication of this analysis, the latest news 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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