SILVERCORP METALS INC. - Daily - Technical analysis published on 09/11/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 3.52 USD
My targets
3.12 USD (-7.42%)
2.89 USD (-14.24%)
My analysis
There is a bearish trend on SILVERCORP METALS INC. both at the basic level and in the short term. A sale could be considered, so long as the price remains below 3.52 USD. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 3.12 USD. Then the price could move towards 2.89 USD. Then 2.47 USD by extension. Be careful, a return to above the resistance 3.52 USD would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5.2
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 3.37 USD. The price is lower by -0.30% since the last closing and was between 3.30 USD and 3.40 USD. This implies that the price is at +2.12% from its lowest and at -0.88% from its highest.3.30
3.40
3.37
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA50 & MA100
Type : Bullish
Timeframe : Daily
In fact, 11 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.89 | 3.12 | 3.35 | 3.37 | 3.52 | 3.88 | 4.17 |
| Change (%) | -14.24% | -7.42% | -0.59% | - | +4.45% | +15.13% | +23.74% |
| Change | -0.48 | -0.25 | -0.02 | - | +0.15 | +0.51 | +0.80 |
| Level | Major | Major | Intermediate | - | Intermediate | Major | Major |
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 | 3.20 | 3.25 | 3.31 | 3.36 | 3.42 | 3.47 | 3.53 |
| Camarilla | 3.35 | 3.36 | 3.37 | 3.38 | 3.39 | 3.40 | 3.41 |
| Woodie | 3.22 | 3.25 | 3.33 | 3.36 | 3.44 | 3.47 | 3.55 |
| Fibonacci | 3.25 | 3.29 | 3.32 | 3.36 | 3.40 | 3.43 | 3.47 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.79 | 3.08 | 3.23 | 3.52 | 3.67 | 3.96 | 4.11 |
| Camarilla | 3.27 | 3.31 | 3.35 | 3.39 | 3.43 | 3.47 | 3.51 |
| Woodie | 2.73 | 3.05 | 3.17 | 3.49 | 3.61 | 3.93 | 4.05 |
| Fibonacci | 3.08 | 3.25 | 3.35 | 3.52 | 3.69 | 3.79 | 3.96 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.10 | 2.53 | 3.16 | 3.59 | 4.22 | 4.65 | 5.28 |
| Camarilla | 3.50 | 3.60 | 3.69 | 3.79 | 3.89 | 3.98 | 4.08 |
| Woodie | 2.20 | 2.58 | 3.26 | 3.64 | 4.32 | 4.70 | 5.38 |
| Fibonacci | 2.53 | 2.94 | 3.19 | 3.59 | 4.00 | 4.25 | 4.65 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 38.35 | |
| MACD (12,26,9): | -0.0500 | |
| Directional Movement: | -6.92 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 3.51 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.82 | |
| Elder Ray (13): | -0.17 | |
| Super Trend (3,10): | 3.81 | |
| Zig ZAG (10): | 3.32 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 5.25 | |
| TEMA (21): | 3.45 | |
| Williams %R (14): | -95.89 | |
| Chande Momentum Oscillator (20): | -0.54 | |
| Repulse (5,40,3): | -5.9600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 12.96 |
| MA7: | 3.42 | |
| MA20: | 3.65 | |
| MA50: | 3.58 | |
| MA100: | 3.58 | |
| MAexp7: | 3.44 | |
| MAexp20: | 3.55 | |
| MAexp50: | 3.56 | |
| MAexp100: | 3.48 | |
| Price / MA7: | -1.46% | |
| Price / MA20: | -7.67% | |
| Price / MA50: | -5.87% | |
| Price / MA100: | -5.87% | |
| Price / MAexp7: | -2.03% | |
| Price / MAexp20: | -5.07% | |
| Price / MAexp50: | -5.34% | |
| Price / MAexp100: | -3.16% |
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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