SKY Network Television Limited Stock Forecast

SKY Network Television Limited stock price down 0% on Thursday
(Updated on May 09, 2024)

SKT.NZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The SKY Network Television Limited 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 $2.79 and $2.82. 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).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, April 30, 2024 and based on theory for this formation the price should fall by -4.36% to $2.60 within 15 trading days since signal was issued (Friday, May 10, 2024).

Support, Risk & Stop-loss for SKY Network Television Limited stock

SKY Network Television Limited finds support from accumulated volume at $2.70 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 $0.0500 between high and low, or 1.85%. For the last week the stock has had daily average volatility of 1.81%.

Our recommended stop-loss: $2.56 (-6.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (SKT.NZ) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect SKY Network Television Limited to open at $2.73, and during the day (based on 14 day Average True Range), to move between $2.67 and $2.77, which gives a possible trading interval of +/-$0.0529 (+/-1.95%) up or down from last closing price. If SKY Network Television Limited takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.70 (0.74%) than the resistance at $2.77 (1.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SKY Network Television Limited stock A Buy?

SKY Network Television Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.710 Hold/Accumulate Unchanged

Predicted Opening Price for SKY Network Television Limited of Friday, May 10, 2024

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