EW Scripps Company (The) Stock Forecast
EW Scripps Company (The) stock price ended at $3.69 on Thursday, after losing 3.02%.
(Updated on Apr 25, 2024)
The EW Scripps Company (The) stock price fell by -3.02% on the last day (Thursday, 25th Apr 2024) from $3.81 to $3.69. During the last trading day the stock fluctuated 5.30% from a day low at $3.68 to a day high of $3.88. The price has risen in 7 of the last 10 days and is up by 14.06% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -700 thousand shares and in total, 480 thousand shares were bought and sold for approximately $1.77 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -51.55% during the next 3 months and, with a 90% probability hold a price between $1.11 and $2.11 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSP Signals & Forecast
The EW Scripps Company (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $3.62 and $3.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 17.89%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for EW Scripps Company (The) stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.45 and $3.30. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, EW Scripps Company (The) finds support just below today's level at $3.45. If this is broken, then the next support from accumulated volume will be at $3.30 and $3.28.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.195 between high and low, or 5.30%. For the last week, the stock has had daily average volatility of 6.39%.
Our recommended stop-loss: $3.55 (-3.82%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (SSP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect EW Scripps Company (The) to open at $3.75, and during the day (based on 14 day Average True Range), to move between $3.37 and $4.01, which gives a possible trading interval of +/-$0.320 (+/-8.66%) up or down from last closing price. If EW Scripps Company (The) takes out the full calculated possible swing range there will be an estimated 17.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.72 (0.81%) than the support at $3.45 (6.50%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is EW Scripps Company (The) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.715 Buy Candidate Unchanged
Predicted Opening Price for EW Scripps Company (The) of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $3.75 ( 1.58%) | $3.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.94 | 6.87 % | |
| R2 | 3.87 | 4.85 % | ||
| R1 | 3.82 | 3.60 % | ||
| Current price: | 3.69 | |||
| Support | S1 | 3.67 | -0.438 % | |
| S2 | 3.63 | -1.69 % | ||
| S3 | 3.55 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.61 | 24.93 % | |
| R2 | 3.93 | 6.50 % | ||
| R1 | 3.72 | 0.81 % | ||
| Current price | 3.69 | |||
| Support | S1 | 3.45 | -6.50% | |
| S2 | 3.30 | -10.70% | ||
| S3 | 3.28 | -11.11% |
SSP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 04, 2020 | Dec 14, 2020 | Dec 24, 2020 | $0.0500 | 0.347% |
| 2 | Aug 07, 2020 | Sep 14, 2020 | Sep 25, 2020 | $0.0500 | 0.430% |
| 3 | May 07, 2020 | Jun 12, 2020 | Jun 25, 2020 | $0.0500 | 0.579% |
| 4 | Feb 26, 2020 | Mar 13, 2020 | Mar 25, 2020 | $0.0500 | 0.571% |
| 5 | Nov 05, 2019 | Dec 12, 2019 | Dec 24, 2019 | $0.0500 | 0.319% |
FAQ
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