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Feb 03, 2021

Is Silver the Next GameStop? (Answer: No)

Let's be honest: for every story published about a new millionaire minted by the GameStop and AMC fiasco, there were twice as many people on the losing side of the trade. Steep declines off GameStop's $400+ peak have arguably hurt more people than the short-lived gains helped.

This week, participants on online forums suggested that a buying spree of silver could generate big GameStop-like gains, and while there was a short-term rally in iShares Silver Trust, the ETF is now flat for the year. 

Bottom line: creating a short squeeze in silver is impossible. In order to create a GameStop-like income in the commodity, an investor would need to hold large quantities of the metal. Most retail investors don't have any, and would have a challenging time building up a position -- given the $50 billion market for coins, bars, and other silver investments -- and given restrictions on the size of positions that retail investors can take.

Predictably, the rally didn't last very long, and shares of silver producers are plummeting. First Majestic Silver shares have fallen over -20% and Hecla Mining is off nearly as much. My advice to retail investors as more of these online forum-driven trade ideas pop-up: steer clear.

If you want to invest in silver, take a look at Artificial Intelligence driven analysis and trade ideas (below). Don't get advice from Reddit. 

Related Ticker: SLV

Momentum Indicator for SLV turns positive, indicating new upward trend

SLV saw its Momentum Indicator move above the 0 level on March 28, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 98 similar instances where the indicator turned positive. In of the 98 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

SLV moved above its 50-day moving average on March 01, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for SLV crossed bullishly above the 50-day moving average on March 06, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

The 50-day moving average for SLV moved above the 200-day moving average on March 28, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SLV advanced for three days, in of 297 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 219 cases where SLV Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for SLV moved out of overbought territory on March 21, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 similar instances where the indicator moved out of overbought territory. In of the 40 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Moving Average Convergence Divergence Histogram (MACD) for SLV turned negative on March 26, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 47 similar instances when the indicator turned negative. In of the 47 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SLV declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

SLV broke above its upper Bollinger Band on March 06, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

Industry description

The investment seeks to reflect generally the performance of the price of silver. The Trust seeks to reflect such performance before payment of the Trust's expenses and liabilities. It is not actively managed. The Trust does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of silver.
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