So far this week, we have looked at Franco-Nevada (FNV) and Newmont (NEM) as part of our precious metals series. Next up is SSR Mining (SSRM) .
Longtime gold and silver bugs may remember the company was formerly Silver Standard Resources based in Vancouver. They mine gold, silver, zinc and tin and they own the largest silver mine in Argentina.
Let's dig into the charts and indicators.
In the daily bar chart of SSRM, below, we can see that the shares have been slowly drifting lower since early August. Prices are currently trading below the declining 50-day moving average line and the cresting 200-day simple moving average line.
The trading volume has picked up since the beginning of the calendar year and the On-Balance-Volume (OBV) line is still in a downtrend but shows some improvement since January.
The trend-following Moving Average Convergence Divergence (MACD) oscillator is crossing to the upside from below the zero line. This signal is a cover shorts message.