SK Telecom Co Ltd Stock Forecast
SK Telecom Co Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The SK Telecom Co Ltd stock price gained 0.673% on the last trading day (Tuesday, 2nd Jul 2024), rising from $20.81 to $20.95. During the last trading day the stock fluctuated 1.06% from a day low at $20.74 to a day high of $20.96. The price has been going up and down for this period, and there has been a 1.11% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 81 thousand more shares were traded than the day before. In total, 238 thousand shares were bought and sold for approximately $4.99 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SK Telecom Co Ltd stock with a 90% probability to be traded between $20.62 and $22.45 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SKM Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.70%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SK Telecom Co Ltd 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 $21.06. On a fall, the stock will find some support from the short-term average at $20.94. 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 Telecom Co Ltd stock
SK Telecom Co Ltd finds support from accumulated volume at $20.81 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.220 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 0.87%.
Our recommended stop-loss: $19.79 (-5.55%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (SKM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect SK Telecom Co Ltd to open at $20.88, and during the day (based on 14 day Average True Range), to move between $20.71 and $21.19, which gives a possible trading interval of +/-$0.238 (+/-1.14%) up or down from last closing price. If SK Telecom Co Ltd takes out the full calculated possible swing range there will be an estimated 2.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.81 (0.67%) than the resistance at $21.18 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SK Telecom Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for SK Telecom Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.556 Buy Candidate Upgraded
Predicted Opening Price for SK Telecom Co Ltd of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $20.88 ( 0.318%) | $20.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.10 | 0.732% |
| R2 | 21.02 | 0.331% |
| R1 | 20.97 | 0.0829% |
| Price | 20.95 | |
| S1 | 20.80 | -0.719% |
| S2 | 20.75 | -0.97% |
| S3 | 20.66 | -1.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.26 | 1.48% |
| R2 | 21.21 | 1.24% |
| R1 | 21.18 | 1.10% |
| Price | 20.95 | |
| S1 | 20.81 | -0.668% |
| S2 | 20.68 | -1.29% |
| S3 | 19.97 | -4.68% |
SKM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | May 02, 2024 | $0.423 | 2.05% |
| 2 | Dec 12, 2023 | Dec 28, 2023 | May 02, 2024 | $0.340 | 1.65% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Nov 21, 2023 | $0.280 | 1.25% |
| 4 | Jun 09, 2023 | Jun 29, 2023 | Aug 18, 2023 | $0.280 | 1.44% |
| 5 | Mar 07, 2023 | Mar 30, 2023 | May 17, 2023 | $0.280 | 1.37% |
FAQ
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