- 1 Sylvania Platinum share price gained 2.90% in the last intraday session and closed at 71 GBX.
- 2 SLP share price fell below the key exponential moving average of 50-day and 200-day EMA.
- 3 The price forecast shows that the Sylvania Platinum share may rise to a high of 160 GBX by the end of 2023.
Sylvania Platinum share price has been showcasing a bearish outlook in the recent sessions after the price fell below the 200-day EMA. The price chart shows a breakdown and retest of the 200-day EMA indicating a slightly bearish outlook in the short term.
Moreover, the long-term price outlook illustrates an ongoing correction phase. The SLP share price is down by 31.20% on a year-to-date basis. The price currently trades at 71 GBX with an intraday gain of 2.90%.
Sylvania Platinum Ltd. engages in mineral exploration and mineral treatment projects. The company has a market capitalization of 181.5 Million GBP. The price-to-earnings ratio is 4.84. The company has a good dividend yield of 11.27%.
Sylvania Platinum Share Price Prediction 2023
The technical indicators imply that the stock price trades below the key moving averages of 50-day and 200-day EMA indicating a slightly bearish outlook. The RSI hovers below the mean line indicating weakness over the charts.
The SLP price has immediate support at 64 GBX which might be a very crucial level for the bulls to be in the game. The breakdown below 64 GBX may trigger a selloff and the price may fall to the lower levels.
The price prediction of Sylvania Platinum stock showcases that it may reach a high of 160 GBX by 2023. The average estimated price target of analysts is 130 GBX. Moreover, the minimum price up to which SLP stock may reach is 90 GBX by the year-end.
Sylvania Platinum Share Price Prediction 2024
The most optimistic outlook of the analysts for 2024 expects the price to reach a high of 200 GBX. The average outlook of the analysts expects a target of 140 GBX. Furthermore, the minimum estimate of the analysts for the price by the end of 2024 is 11 GBX.
Sylvania Platinum Ltd. is a mineral exploration and treatment company with a market cap of 181.5 Million GBP. The company has a good dividend yield of 11.27%. The price action analysis shows a bearish outlook in the short term. The price is down over 31.2% on a year-to-date basis.
The technical indicators imply that the price trades below the 200-day EMA. The RSI also hovers below the mean line indicating weakness. The price has a critical support at 64 GBX, which if broken, may trigger a selloff. The price prediction for 2023 is 160 GBX as the high estimate.
- Support Levels: 64 GBX and 58.3 GBX
- Resistance Levels: 79.1 GBX and 86.7 GBX
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.