SilverCrest Metals Price Predictions.SilverCrest Metals Inc. (SILV) closed at $8.92, showing a strong bullish movement with a 5.81% increase on the last trading day. The stock’s Relative Strength Index (RSI) stands at 61.24, indicating a moderate momentum that is neither overbought nor oversold, making it a potential candidate for continued upward movement.
RSI (14): 61.24 – Neutral, suggesting that the stock has room to move up before hitting overbought territory.
Stochastic %K (14, 3, 3): 71.18 – Neutral, nearing the overbought threshold but still within a safe zone for potential gains.
Commodity Channel Index (CCI 20): 283.96 – Neutral, indicating strong upward momentum.
MACD Level (12, 26): 0.01 – Buy, with a bullish crossover, signaling a potential uptrend.
Momentum (10): 0.38 – Buy, confirming positive momentum.
Exponential Moving Averages (EMA): All short to medium-term EMAs (10, 20, 30, 50) indicate a Buy signal, confirming the bullish trend.
The stock has formed a series of higher highs and higher lows, indicative of a strong uptrend. The recent bullish candle with a significant volume spike suggests strong buying interest. The stock is trading above its key moving averages, which act as support levels.
The alignment of these moving averages supports a bullish outlook, as shorter-term EMAs are above the longer-term SMAs, a classic bull signal.
Immediate Support: $8.33 (Pivot Point)
Strong Support: $7.68 (S1)
Immediate Resistance: $8.81 (R1)
Next Major Resistance: $9.46 (R2)
SilverCrest’s financial performance has shown robust growth, with a notable increase in revenue from the Las Chispas project. The company’s earnings have consistently outperformed estimates, adding to investor confidence.
Analyst ratings are predominantly bullish with a “Strong Buy” consensus. The price target set by analysts ranges from $8.00 to $10.09, with an average target of $8.90, indicating room for potential gains.
Long Position: Initiate a long position if the stock sustains above $8.81 (R1). The next target would be $9.46, followed by $10.09. Set a stop-loss at $8.33 to mitigate risk.
Short Position: Consider shorting if the stock breaks below the $8.33 support level. The first target would be $7.68, with a stop-loss at $8.81 to limit losses.
SilverCrest Metals Inc. exhibits strong bullish momentum with solid technical indicators supporting further upward movement. The balanced RSI and robust financial performance suggest that the stock is well-positioned for a potential bull run. Traders should watch for a breakout above $8.81 for a long entry or a drop below $8.33 for a short opportunity. Given the current market dynamics and technical setup, SILV presents a compelling case for bullish investors looking to capitalize on the next potential rally.
