SLSR Should I Buy
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Not a good buy right now. Despite a still-bullish moving-average structure and rising Wall Street price targets, SLSR is in the middle of a sharp selloff (-11.90% today and -7.53% pre-market), with short-term downside probabilities skewed negative (next week/month). For an impatient investor unwilling to wait for confirmation, the current tape does not offer a clean, low-risk entry; it’s better to stay on the sidelines until price stabilizes above key levels.
Trend/Momentum: Longer-term trend remains constructive with bullish moving averages (SMA_5 > SMA_20 > SMA_200), but near-term price action is clearly risk-off given the large gap/decline today. MACD: Histogram is positive (0.11) but positively contracting, implying bullish momentum is fading rather than accelerating. RSI: RSI(6)=46.18 (neutral), consistent with a market that is not yet technically “oversold,” so there may still be room for further downside before a reflex bounce becomes high-probability. Levels: Pivot=9.85 (price 9.44 is below pivot, a near-term bearish tell). Support S1=8.70 then S2=7.99; Resistance R1=11.00 then R2=11.71. If price loses 8.70, downside can accelerate; a regain of 9.85 would be an early stabilization signal.
Analyst support strengthening: Multiple recent price target raises (BMO and H.C. Wainwright) reinforce the bull thesis around the Warintza copper project.
Project economics backdrop: The prior Warintza Pre-Feasibility Study commentary (Tier-1 copper asset framing; strong NPV/IRR cited by an analyst) remains a supportive fundamental narrative.
Positioning: Call-heavy open interest (low put/call OI ratio) indicates the options market is leaning bullish longer-term.
Price action shock: A very large single-day drop plus additional pre-market weakness signals near-term distribution and can trigger further selling.
Short-term statistical drift: Pattern-based outlook provided points to expected weakness over the next week (-2.73%) and month (-9.32%).
No near-term news catalyst: No recent-week news to explain/stop the selloff, which can allow momentum to dominate.
Risk profile: Very high implied volatility suggests the market expects continued big moves, which is unfavorable for an impatient buyer seeking immediate payoff without drawdowns.
Latest quarter: 2025/Q3. The company remains pre-revenue (revenue still 0). Losses widened materially: net income fell to -$12.216M (down 41.23% YoY) and EPS declined to -0.07 (down 46.15% YoY). This reflects an early-stage/project-development profile where financing/execution risk remains central and near-term earnings support is absent.
Recent trend: Ratings remain constructive with reiterated Buy/Outperform views, and price targets have been raised (BMO to C$18 from C$16 on 2026-01-29; H.C. Wainwright to $16 from $13.50 on 2026-01-21; earlier to $13.50 from $13 on 2025-11-07). Wall Street pros: Tier-1 copper project narrative and improved commodity-deck assumptions supporting higher valuation expectations. Wall Street cons: The stock is still loss-making and pre-revenue, so the thesis relies heavily on project execution, capital needs, and commodity prices—factors that can conflict with the current sharp risk-off tape. Influential trading: No recent congress trading data available; hedge fund and insider activity shown as neutral (no significant recent trend).
