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Archive - 3/15/2024 - Sign In to see current Signals. |
iShares Silver Trust (SLV) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a third consecutive positive week for the iShares Silver Trust (SLV). During the week, the SLV gained 0.80 points, or 3.60%, and closed at 23.03 on Friday, March 15, 2024. Weekly volume was 20% above average. Long-term trend: [See SLV long-term trend chart] A long-term uptrend had started on September 1, 2022 at 16.19 and reached 23.94 on May 4, 2023. SLV gained -7.75 points, or -47.87%, in 35 weeks. The price is now at the 11.74% retracement level. Medium-term trend: [See SLV medium-term trend chart] A medium-term downtrend had started on December 1, 2023 at 23.37 and reached 20.07 on January 22, 2024. SLV lost 3.30 points, or 14.12%, in 7 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (19.25) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. SLV may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend. Weekly Technical Indicators: [See SLV weekly technical indicators chart] Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help. The weekly MACD line is above its signal line since March 1, 2024. Use the following link to access a MACD help. Short-term trend: [See SLV short-term trend chart] A short-term uptrend had started on January 22, 2024 at 20.07 and reached 23.27 on March 15, 2024. SLV gained -3.20 points, or -15.94%, in 53 days. The chart has formed a Rising Channel chart pattern. Daily Technical Indicators: [See SLV daily technical indicators chart] Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help. The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term uptrend is still strong, and momentum is beginning to wane.
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Daily Oscillators |
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Weekly Oscillators |
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Trading
Signals |
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Sector and
Industry |
Description |
Name |
Rank |
Sector |
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Industry |
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Daily Trend |
Description |
Value |
Direction |
Up |
Chart Pattern |
Rising Channel |
Low |
20.07 |
Low Date |
01/22/2024 |
High |
23.27 |
High Date |
03/15/2024 |
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Weekly Trend |
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Description |
Value |
Direction |
Down |
Chart Pattern |
Falling Wedge |
Status |
Broken Resistance |
Resistance |
19.39 |
Support |
19.25 |
High |
23.37 |
High Date |
12/01/2023 |
Low |
20.07 |
Low Date |
01/22/2024 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
23.94 |
High Date |
05/04/2023 |
Low |
18.97 |
Low Date |
10/04/2023 |
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Quarterly Trend |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Uptrend |
Status |
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Resistance |
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Support |
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Low |
16.19 |
Low Date |
09/01/2022 |
High |
23.94 |
High Date |
05/04/2023 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
27.98 |
High Date |
02/01/2021 |
Low |
16.19 |
Low Date |
09/01/2022 |
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