SILVERCORP METALS INC. - Daily - Technical analysis published on 05/09/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
56%
17%
28%
My opinion
Bullish above 3.42 USD
My targets
3.87 USD (+9.32%)
4.13 USD (+16.67%)
My analysis
The basic bullish trend is very strong on SILVERCORP METALS INC. but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 3.42 USD. Crossing the first resistance at 3.87 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 4.13 USD as an objective. Crossing it would then enable buyers to target 5.58 USD. Caution, a return to below 3.42 USD would be a sign of a consolidation phase in the short-term basic trend. 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 bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.6
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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 3.54 USD. The price registered an increase of +5.36% on the session and was between 3.40 USD and 3.54 USD. This implies that the price is at +4.12% from its lowest and at 0% from its highest.3.40
3.54
3.54
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SILVERCORP METALS INC.:
Technical
Technical analysis of this Daily chart of SILVERCORP METALS INC. indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.63 | 2.91 | 3.15 | 3.54 | 3.55 | 3.87 | 4.13 |
| Change (%) | -25.71% | -17.80% | -11.02% | - | +0.28% | +9.32% | +16.67% |
| Change | -0.91 | -0.63 | -0.39 | - | +0.01 | +0.33 | +0.59 |
| Level | Intermediate | Major | Intermediate | - | Minor | Major | Intermediate |
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 | 3.18 | 3.25 | 3.31 | 3.38 | 3.44 | 3.51 | 3.57 |
| Camarilla | 3.32 | 3.34 | 3.35 | 3.36 | 3.37 | 3.38 | 3.40 |
| Woodie | 3.17 | 3.25 | 3.30 | 3.38 | 3.43 | 3.51 | 3.56 |
| Fibonacci | 3.25 | 3.30 | 3.33 | 3.38 | 3.43 | 3.46 | 3.51 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.96 | 3.05 | 3.18 | 3.27 | 3.40 | 3.49 | 3.62 |
| Camarilla | 3.24 | 3.26 | 3.28 | 3.30 | 3.32 | 3.34 | 3.36 |
| Woodie | 2.97 | 3.06 | 3.19 | 3.28 | 3.41 | 3.50 | 3.63 |
| Fibonacci | 3.05 | 3.14 | 3.19 | 3.27 | 3.36 | 3.41 | 3.49 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.01 | 2.57 | 2.86 | 3.42 | 3.71 | 4.27 | 4.56 |
| Camarilla | 2.92 | 2.99 | 3.07 | 3.15 | 3.23 | 3.31 | 3.38 |
| Woodie | 1.88 | 2.50 | 2.73 | 3.35 | 3.58 | 4.20 | 4.43 |
| Fibonacci | 2.57 | 2.90 | 3.10 | 3.42 | 3.75 | 3.95 | 4.27 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 56.26 | |
| MACD (12,26,9): | 0.0200 | |
| Directional Movement: | -0.28 | |
| AROON (14): | -7.14 | |
| DEMA (21): | 3.45 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.61 | |
| Elder Ray (13): | 0.07 | |
| Super Trend (3,10): | 3.84 | |
| Zig ZAG (10): | 3.54 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 59.33 | |
| TEMA (21): | 3.35 | |
| Williams %R (14): | -16.33 | |
| Chande Momentum Oscillator (20): | -0.01 | |
| Repulse (5,40,3): | 3.5500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1500 | |
| Courbe Coppock: | 12.03 |
| MA7: | 3.36 | |
| MA20: | 3.45 | |
| MA50: | 3.24 | |
| MA100: | 2.85 | |
| MAexp7: | 3.40 | |
| MAexp20: | 3.40 | |
| MAexp50: | 3.24 | |
| MAexp100: | 3.01 | |
| Price / MA7: | +5.36% | |
| Price / MA20: | +2.61% | |
| Price / MA50: | +9.26% | |
| Price / MA100: | +24.21% | |
| Price / MAexp7: | +4.12% | |
| Price / MAexp20: | +4.12% | |
| Price / MAexp50: | +9.26% | |
| Price / MAexp100: | +17.61% |
Quotes :
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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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