SBA Communications Corporation Stock Forecast
SBA Communications Corporation stock price ended at $198.41 on Monday, after losing 0.487%.
(Updated on May 20, 2024)
The SBA Communications Corporation stock price fell by -0.487% on the last day (Monday, 20th May 2024) from $199.38 to $198.41. During the last trading day the stock fluctuated 2.04% from a day low at $196.20 to a day high of $200.20. The price has risen in 7 of the last 10 days and is up by 3.02% 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 -47 thousand shares and in total, 786 thousand shares were bought and sold for approximately $155.95 million.
The stock lies in the middle of a 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 -9.97% during the next 3 months and, with a 90% probability hold a price between $162.88 and $187.11 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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SBAC Signals & Forecast
There are mixed signals in the stock today. The SBA Communications Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $199.67 and $200.43. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 6.60%. 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).
Support, Risk & Stop-loss for SBA Communications Corporation stock
SBA Communications Corporation finds support from accumulated volume at $193.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.00 (2.04%) between high and low. For the last week, the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBAC) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect SBA Communications Corporation to open at $198.27, and during the day (based on 14 day Average True Range), to move between $193.20 and $203.62, which gives a possible trading interval of +/-$5.21 (+/-2.62%) up or down from last closing price. If SBA Communications Corporation takes out the full calculated possible swing range there will be an estimated 5.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $199.95 (0.78%) than the support at $193.87 (2.29%), 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 SBA Communications Corporation stock A Buy?
SBA Communications Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.946 Sell Candidate Unchanged
Predicted Opening Price for SBA Communications Corporation of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $198.27 ( 0.0706%) | $198.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBAC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 202.27 | 1.95 % | |
| R2 | 200.74 | 1.18 % | ||
| R1 | 199.80 | 0.700 % | ||
| Current price: | 198.41 | |||
| Support | S1 | 196.74 | -0.84 % | |
| S2 | 195.80 | -1.32 % | ||
| S3 | 194.27 | -2.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 209.23 | 5.45 % | |
| R2 | 205.16 | 3.40 % | ||
| R1 | 199.95 | 0.776 % | ||
| Current price | 198.41 | |||
| Support | S1 | 193.87 | -2.29% | |
| S2 | 189.12 | -4.68% | ||
| S3 | 186.12 | -6.19% |
SBAC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | May 22, 2024 | Jun 19, 2024 | $0.98 | 0.494% |
| 2 | Feb 26, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.98 | 0.452% |
| 3 | Nov 02, 2023 | Nov 15, 2023 | Dec 14, 2023 | $0.85 | 0.339% |
| 4 | Jul 30, 2023 | Aug 23, 2023 | Sep 20, 2023 | $0.85 | 0.395% |
| 5 | Apr 30, 2023 | May 25, 2023 | Jun 21, 2023 | $0.85 | 0.384% |
FAQ
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