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Silvercorp(SVM) is engaged in the acquisition, exploration, development and mining of high-grade silver-related mineral properties in China and Canada. This stock is trading up 3.5% at $6.17 in recent trading.
Today's Range: $5.74-$6.17
52-Week Range: $4.89-$12.12
Three-Month Average Volume: 1.5 million
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technical perspective, SVM is moving modestly higher here with below average volume. This move is pushing SVM within range of a near-term breakout trade. That trade will hit once SVM takes out some near-term overhead resistance at $6.19 and then its 50-day moving average of $6.37 with high volume.
Traders should look for long-biased trades if SVM can manage to sustain a move or close above those levels with volume that's near or above 1,500,720 shares. If we get that action soon, look for SVM to challenge $7.10 or possibly its 200-day moving average of $7.34 in the near future.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.