Sk Growth Opportunities Corporation Stock Forecast

On Friday, Sk Growth Opportunities Corporation stock price gained an impressive 8.02%
(Updated on Jun 28, 2024)

SKGRW Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 12.86%. 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). Sk Growth Opportunities Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sk Growth Opportunities Corporation 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 $0.257. On a fall, the stock will find some support from the short-term average at $0.232. 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.

Support, Risk & Stop-loss for Sk Growth Opportunities Corporation stock

Sk Growth Opportunities Corporation finds support from accumulated volume at $0.230 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0030 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 5.34%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SKGRW) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Sk Growth Opportunities Corporation to open at $0.238, and during the day (based on 14 day Average True Range), to move between $0.206 and $0.268, which gives a possible trading interval of +/-$0.0307 (+/-12.93%) up or down from last closing price. If Sk Growth Opportunities Corporation takes out the full calculated possible swing range there will be an estimated 25.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.240 (1.27%) than the support at $0.230 (2.95%), 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 Sk Growth Opportunities Corporation stock A Buy?

Sk Growth Opportunities Corporation 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: -2.927 Sell Candidate Unchanged

Predicted Opening Price for Sk Growth Opportunities Corporation of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.