pool adsChanges to the Price of Ishares Silver Trust $SLV Influence Investor Perception
Often, the action in a stock is based on investors perceptions, but it can be a circular event. Not only is the price action representative of perception, but it can influence perception too. In the case of Ishares Silver Trust (NYSE: SLV) we can see this in the charts. The data for SLV in the summary table and trading plans below are intended to provide an example of how to extrapolate this. Our data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Neutral | Strong |
| P1 | 0 | 0 | 23.98 |
| P2 | 24.21 | 24.79 | 26.78 |
| P3 | 24.91 | 25.72 | 30.06 |
Support and Resistance Plot Chart for SLV
Long Term Trading Plans for SLV
March 2, 2021, 6:45 am ET
The Technical Summary and Trading Plans for SLV help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this SLV Report.
SLV - (Long) Support Plan
The technical summary data tells us to buy SLV near 23.98 with an upside target of 26.78. This data also tells us to set a stop loss @ 23.91 to protect against excessive loss in case the stock begins to move against the trade. 23.98 is the first level of support below 24.6 , and by rule, any test of support is a buy signal. In this case, support 23.98 would be being tested, so a buy signal would exist.
SLV - (Short) Resistance Plan
The technical summary data is suggesting a short of SLV as it gets near 26.78 with a downside target of 23.98. We should have a stop loss in place at 26.86though. 26.78 is the first level of resistance above 24.6, and by rule, any test of resistance is a short signal. In this case, if resistance 26.78 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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