Singapore Airlines Limited Stock Forecast
Green day on Monday for Singapore Airlines Limited stock after gaining 2.76%
(Updated on Apr 22, 2024)
The Singapore Airlines Limited stock price gained 2.76% on the last trading day (Monday, 22nd Apr 2024), rising from $9.16 to $9.41. During the last trading day the stock fluctuated 2.62% from a day low at $9.17 to a day high of $9.41. The price has fallen in 6 of the last 10 days and is down by -0.63% for this period. Volume fell on the last day by -12 thousand shares and in total, 58 thousand shares were bought and sold for approximately $547.05 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 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 -8.53% during the next 3 months and, with a 90% probability hold a price between $8.27 and $9.28 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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SINGY Signals & Forecast
There are mixed signals in the stock today. The Singapore Airlines Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $9.45. On a fall, the stock will find some support from the short-term average at $9.23. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.41%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Singapore Airlines Limited stock
Singapore Airlines Limited finds support from accumulated volume at $9.37 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 $0.240 between high and low, or 2.62%. For the last week the stock has had daily average volatility of 2.52%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SINGY) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Singapore Airlines Limited to open at $9.33, and during the day (based on 14 day Average True Range), to move between $9.21 and $9.61, which gives a possible trading interval of +/-$0.203 (+/-2.15%) up or down from last closing price. If Singapore Airlines Limited takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.43 (0.21%) than the support at $9.37 (0.43%), 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 Singapore Airlines Limited stock A Buy?
Singapore Airlines Limited 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: -2.072 Sell Candidate Unchanged
Predicted Opening Price for Singapore Airlines Limited of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $9.33 ( 0.85%) | $9.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SINGY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.57 | 1.70 % | |
| R2 | 9.48 | 0.726 % | ||
| R1 | 9.42 | 0.124 % | ||
| Current price: | 9.41 | |||
| Support | S1 | 9.24 | -1.82 % | |
| S2 | 9.18 | -2.43 % | ||
| S3 | 9.09 | -3.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.15 | 7.86 % | |
| R2 | 9.59 | 1.91 % | ||
| R1 | 9.43 | 0.213 % | ||
| Current price | 9.41 | |||
| Support | S1 | 9.37 | -0.425% | |
| S2 | 9.16 | -2.68% | ||
| S3 | 9.10 | -3.29% |
SINGY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 05, 2023 | Dec 05, 2023 | Jan 08, 2024 | $0.130 | 1.35% |
| 2 | Jul 01, 2023 | Jul 31, 2023 | Sep 05, 2023 | $0.417 | 4.12% |
| 3 | Dec 02, 2022 | Dec 08, 2022 | Jan 06, 2023 | $0.143 | 1.73% |
| 4 | Nov 15, 2019 | Nov 15, 2019 | Dec 12, 2019 | $0.118 | 0.88% |
| 5 | Jul 31, 2019 | Jul 31, 2019 | Sep 03, 2019 | $0.318 | 2.50% |
FAQ
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