Singapore Airlines Limited Stock Forecast
Green day on Thursday for Singapore Airlines Limited
(Updated on May 02, 2024)
The Singapore Airlines Limited stock price gained 0.786% on the last trading day (Thursday, 2nd May 2024), rising from $9.54 to $9.62. During the last trading day the stock fluctuated 0.94% from a day low at $9.55 to a day high of $9.64. The price has risen in 5 of the last 10 days and is up by 3.72% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 21 thousand shares were bought and sold for approximately $201.98 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 -8.00% during the next 3 months and, with a 90% probability hold a price between $8.21 and $9.26 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
The Singapore Airlines Limited 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 $9.57 and $9.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.66%. 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.
Support, Risk & Stop-loss for Singapore Airlines Limited stock
Singapore Airlines Limited finds support from accumulated volume at $9.59 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 $0.0900 between high and low, or 0.94%. For the last week the stock has had daily average volatility of 1.52%
Our recommended stop-loss: $9.19 (-4.39%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (SINGY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Singapore Airlines Limited to open at $9.60, and during the day (based on 14 day Average True Range), to move between $9.43 and $9.80, which gives a possible trading interval of +/-$0.186 (+/-1.93%) up or down from last closing price. If Singapore Airlines Limited takes out the full calculated possible swing range there will be an estimated 3.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.59 (0.26%) than the resistance at $10.15 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Singapore Airlines Limited stock A Buy?
Singapore Airlines Limited 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.
Current score: 0.947 Hold/Accumulate Unchanged
Predicted Opening Price for Singapore Airlines Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $9.60 ( 0.139%) | $9.62 |
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 | 9.69 | 0.797 % | |
| R2 | 9.66 | 0.440 % | ||
| R1 | 9.64 | 0.219 % | ||
| Current price: | 9.62 | |||
| Support | S1 | 9.57 | -0.496 % | |
| S2 | 9.55 | -0.717 % | ||
| S3 | 9.51 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.58 | 10.04 % | |
| R2 | 10.35 | 7.64 % | ||
| R1 | 10.15 | 5.56 % | ||
| Current price | 9.62 | |||
| Support | S1 | 9.59 | -0.260% | |
| S2 | 9.58 | -0.364% | ||
| S3 | 9.43 | -1.92% |
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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