Saga Communications, Inc Stock Forecast
Weaker technical forecast for Saga Communications, Inc as stock downgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)
The Saga Communications, Inc stock price gained 0.0440% on the last trading day (Friday, 19th Apr 2024), rising from $22.75 to $22.76. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.50% from a day low at $22.42 to a day high of $23.20. The price has been going up and down for this period, and there has been a 1.16% gain for the last 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 11 thousand shares were bought and sold for approximately $240.07 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 -7.07% during the next 3 months and, with a 90% probability hold a price between $20.13 and $21.99 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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SGA Signals & Forecast
The Saga Communications, Inc 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 $22.31 and $22.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 4.36%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Wednesday, August 23, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, August 23, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Saga Communications, Inc stock
Saga Communications, Inc finds support from accumulated volume at $22.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.785 between high and low, or 3.50%. For the last week the stock has had daily average volatility of 3.07%
Our recommended stop-loss: $21.84 (-4.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SGA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Saga Communications, Inc to open at $22.79, and during the day (based on 14 day Average True Range), to move between $22.18 and $23.34, which gives a possible trading interval of +/-$0.585 (+/-2.57%) up or down from last closing price. If Saga Communications, Inc takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.75 (0.04%) than the resistance at $23.03 (1.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Saga Communications, Inc stock A Buy?
Saga Communications, Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.022 Hold/Accumulate Downgraded
Predicted Opening Price for Saga Communications, Inc of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$22.79 ( 0.139%) | $22.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.58 | 3.59 % | |
R2 | 23.28 | 2.27 % | ||
R1 | 23.09 | 1.46 % | ||
Current price: | 22.76 | |||
Support | S1 | 22.49 | -1.18 % | |
S2 | 22.31 | -1.99 % | ||
S3 | 22.01 | -3.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.59 | 3.65 % | |
R2 | 23.57 | 3.56 % | ||
R1 | 23.03 | 1.19 % | ||
Current price | 22.76 | |||
Support | S1 | 22.75 | -0.0439% | |
S2 | 22.62 | -0.615% | ||
S3 | 22.37 | -1.71% |
SGA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 15, 2024 | Apr 05, 2024 | $0.600 | 2.67% |
2 | Feb 16, 2024 | Feb 16, 2024 | Mar 08, 2024 | $0.250 | 1.02% |
3 | Dec 07, 2023 | Dec 19, 2023 | Jan 12, 2024 | $1.00 | 4.58% |
4 | Nov 16, 2023 | Nov 24, 2023 | Dec 15, 2023 | $0.250 | 0.98% |
5 | Sep 27, 2023 | Oct 10, 2023 | Nov 03, 2023 | $0.250 | 1.25% |
FAQ
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