Above the 200-Day Moving Average for the First Time in Four Months
The stock price of the Canadian silver explorer Summa Silver (TSXV SSVR / WKN A2P4EE) lost about a third of its value since the last high point in late summer, only to rise significantly again after a two-month bottom formation that began in November, starting from the beginning of the year.
The upward movement, which continues to run above the blue trend line, effortlessly overcame the 100-day line, and the price recently managed to trade slightly above the 200-day line again. During the rise, declining volumes were observed – however, this tendency seems to be ending (see recent volume spikes upward).
Unfortunately, both moving averages continue to fall – however, the rate of decline has recently reduced, and particularly the 200-day line should soon transition into a sideways movement.
Despite some stress tests, the buy signal from the MACD indicator has held since the end of November – the blue line has consistently remained above the red line since then. The trend confirmer reflects the positive development – it has been trading in positive territory above 100 since the beginning of the year.
An almost steady inflow of capital into the stock is indicated by the course of the Chaikin Money Flow, which is almost exclusively in the green zone. The upward movement doesn’t have too much momentum at present. The Overbought/Oversold indicator did reach a value of just over 2.0 with the first upmove in January, which is considered overbought. Currently, this indicator is clearly positive but is only trading in the middle between the neutral zero and the overheated zone.
