SKYCITY Entertainment Group Ltd Stock Forecast
SKYCITY Entertainment Group Ltd stock price down 4.12% on Wednesday
(Updated on Jun 26, 2024)
The SKYCITY Entertainment Group Ltd stock price fell by -4.12% on the last day (Wednesday, 26th Jun 2024) from A$1.34 to A$1.28. During the last trading day the stock fluctuated 4.69% from a day low at A$1.28 to a day high of A$1.34. The price has fallen in 7 of the last 10 days and is down by -9.54% for this period. Volume has increased on the last day by 298 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 599 thousand shares were bought and sold for approximately A$766.11 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at A$1.25 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -25.27% during the next 3 months and, with a 90% probability hold a price between A$0.93 and A$1.13 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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SKC.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has fallen 0%. 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 SKYCITY Entertainment Group Ltd 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 A$1.31 and A$1.49. 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). SKYCITY Entertainment Group Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for SKYCITY Entertainment Group Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved A$0.0600 between high and low, or 4.69%. For the last week, the stock has had daily average volatility of 3.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKC.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect SKYCITY Entertainment Group Ltd to open at A$1.30, and during the day (based on 14 day Average True Range), to move between A$1.22 and A$1.34, which gives a possible trading interval of +/-A$0.0568 (+/-4.44%) up or down from last closing price. If SKYCITY Entertainment Group Ltd takes out the full calculated possible swing range there will be an estimated 8.87% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ A$1.34, some A$0.0550 (4.30%) from the current price of A$1.28, our system finds the risk reward not very attractive.
Is SKYCITY Entertainment Group Ltd stock A Buy?
SKYCITY Entertainment Group Ltd holds several negative signals and is within a 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.
Current score: -4.744 Sell Candidate Unchanged
Predicted Opening Price for SKYCITY Entertainment Group Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| A$1.30 ( 1.56%) | A$1.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKC.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.36 | 6.25% |
| R2 | 1.34 | 4.46% |
| R1 | 1.32 | 3.35% |
| Price | 1.28 | |
| S1 | 1.28 | -0.228% |
| S2 | 1.26 | -1.33% |
| S3 | 1.24 | -3.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.39 | 8.59% |
| R2 | 1.35 | 5.08% |
| R1 | 1.34 | 4.30% |
| Price | 1.28 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
SKC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Mar 06, 2024 | Mar 21, 2024 | A$0.0583 | 3.24% |
| 2 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | A$0.0600 | 3.21% |
| 3 | Mar 02, 2023 | Mar 02, 2023 | Mar 02, 2023 | A$0.0556 | 2.44% |
| 4 | Sep 16, 2021 | Sep 16, 2021 | Sep 16, 2021 | A$0.0677 | 2.17% |
| 5 | Feb 13, 2020 | Feb 27, 2020 | Mar 13, 2020 | A$0.0960 | 3.68% |
FAQ
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