Sinclair Broadcast Group Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Sinclair Broadcast Group stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The Sinclair Broadcast Group stock price fell by -1.80% on the last day (Tuesday, 30th Apr 2024) from $12.53 to $12.30. During the last trading day the stock fluctuated 3.06% from a day low at $12.09 to a day high of $12.46. The price has been going up and down for this period, and there has been a 2.33% gain for the last 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 -86 thousand shares and in total, 215 thousand shares were bought and sold for approximately $2.64 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 -22.38% during the next 3 months and, with a 90% probability hold a price between $7.74 and $10.10 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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SBGI Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 6.59%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sinclair Broadcast Group 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 $12.38 and $12.42. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Sinclair Broadcast Group stock
Sinclair Broadcast Group finds support from accumulated volume at $12.14 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 $0.370 between high and low, or 3.06%. For the last week, the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBGI) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Sinclair Broadcast Group to open at $12.28, and during the day (based on 14 day Average True Range), to move between $11.73 and $12.87, which gives a possible trading interval of +/-$0.565 (+/-4.59%) up or down from last closing price. If Sinclair Broadcast Group takes out the full calculated possible swing range there will be an estimated 9.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.14 (1.30%) than the resistance at $12.52 (1.79%), 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 AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.200. 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 +/- 8.53% in the first trading day after earnings release.
Is Sinclair Broadcast Group stock A Buy?
Sinclair Broadcast Group holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.318 Sell Candidate Downgraded
Predicted Opening Price for Sinclair Broadcast Group of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $12.28 ( 0.136%) | $12.30 |
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 | 12.65 | 2.87 % | |
| R2 | 12.51 | 1.72 % | ||
| R1 | 12.42 | 1.01 % | ||
| Current price: | 12.30 | |||
| Support | S1 | 12.14 | -1.29 % | |
| S2 | 12.05 | -2.00 % | ||
| S3 | 11.91 | -3.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.11 | 6.59 % | |
| R2 | 12.76 | 3.74 % | ||
| R1 | 12.52 | 1.79 % | ||
| Current price | 12.30 | |||
| Support | S1 | 12.14 | -1.30% | |
| S2 | 11.63 | -5.45% | ||
| S3 | 11.57 | -5.93% |
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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