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Uptrend SupportArchive
- 4/26/2024 -
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iShares Silver Trust (SLV) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the iShares Silver Trust (SLV). During the week, the SLV dropped -1.31 points, or -5.00%, and closed at 24.89 on Friday, April 26, 2024. It was the worst weekly loss since December 8, 2023. Weekly volume was 67% above average.
 Long-term trend: [See SLV long-term trend chart]
A long-term downtrend had started on February 1, 2021 at 27.98 and reached 16.19 on September 1, 2022. SLV lost 11.79 points, or 42.14%, in 82 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (20.41) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.
 Medium-term trend: [See SLV medium-term trend chart]
A medium-term uptrend had started on January 22, 2024 at 20.07 and reached 27.24 on April 12, 2024. SLV gained -7.17 points, or -35.72%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (25.01). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See SLV weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 Lane's Stochastic help.
The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See SLV short-term trend chart]
A short-term downtrend had started on April 12, 2024 at 27.24 and reached 24.63 on April 23, 2024. SLV lost 2.61 points, or 9.58%, in 11 days. The price is now at the 9.96% retracement level.
 Daily Technical Indicators: [See SLV daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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