Sinclair Broadcast Group Stock Forecast
Green day on Monday for Sinclair Broadcast Group
(Updated on May 06, 2024)
The Sinclair Broadcast Group stock price gained 2.50% on the last trading day (Monday, 6th May 2024), rising from $13.21 to $13.54. During the last trading day the stock fluctuated 2.41% from a day low at $13.30 to a day high of $13.62. The price has risen in 6 of the last 10 days and is up by 9.72% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 thousand more shares were traded than the day before. In total, 180 thousand shares were bought and sold for approximately $2.44 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $13.46, a level that may pose a second chance to hit a runner. According to fan-theory $16.81 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SBGI Signals & Forecast
Mostly positive signals in the chart today. The Sinclair Broadcast Group stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $12.83 and $12.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 17.33%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Sinclair Broadcast Group stock
Sinclair Broadcast Group finds support from accumulated volume at $13.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.320 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: $13.05 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (SBGI) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Sinclair Broadcast Group to open at $13.49, and during the day (based on 14 day Average True Range), to move between $12.97 and $14.11, which gives a possible trading interval of +/-$0.566 (+/-4.18%) up or down from last closing price. If Sinclair Broadcast Group takes out the full calculated possible swing range there will be an estimated 8.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.11 (3.18%) than the resistance at $14.79 (9.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Sinclair Broadcast Group will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.540. We will update the financials statements for Sinclair Broadcast Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.02% in the first trading day after earnings release.
Is Sinclair Broadcast Group stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 2.009 Buy Candidate Unchanged
Predicted Opening Price for Sinclair Broadcast Group of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $13.49 ( 0.394%) | $13.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBGI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.81 | 1.97 % | |
| R2 | 13.68 | 1.07 % | ||
| R1 | 13.61 | 0.509 % | ||
| Current price: | 13.54 | |||
| Support | S1 | 13.36 | -1.30 % | |
| S2 | 13.29 | -1.85 % | ||
| S3 | 13.17 | -2.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.95 | 17.80 % | |
| R2 | 14.85 | 9.68 % | ||
| R1 | 14.79 | 9.23 % | ||
| Current price | 13.54 | |||
| Support | S1 | 13.11 | -3.18% | |
| S2 | 12.52 | -7.53% | ||
| S3 | 11.57 | -14.55% |
SBGI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Mar 08, 2024 | Mar 08, 2024 | $0 | 0% |
| 2 | Nov 01, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.250 | 1.92% |
| 3 | Aug 06, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.250 | 2.04% |
| 4 | May 03, 2023 | May 26, 2023 | Jun 15, 2023 | $0.250 | 1.77% |
| 5 | May 28, 2023 | Mar 02, 2023 | Mar 17, 2023 | $0.250 | 1.98% |
FAQ
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