You don't have to be an expert technical analyst to see what's been going on in shares of Silvercorp Metals (SVM), a small-cap silver mining stock. Shares of the miner have been trending lower in a channel pattern since all the way back in September, bouncing ever-lower in a high-probability range.
Trend channels are useful for traders because they identify the high-probability range for shares to keep moving within. The trendline resistance level in SVM has acted as a ceiling for shares the last six times it's been tested, and that pattern doesn't look likely to change now.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts