SKY Network Television Limited Stock Forecast

Red day on Friday for SKY Network Television Limited stock after losing 0%
(Updated on May 31, 2024)

SKT.NZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 28, 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 $2.47 and $2.70. 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).

Support, Risk & Stop-loss for SKY Network Television Limited 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0600 between high and low, or 2.48%. For the last week, the stock has had daily average volatility of 2.39%.

SKY Network Television Limited is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (SKT.NZ) For The Upcoming Trading Day Of Tuesday 4th

For the upcoming trading day on Tuesday, 4th we expect SKY Network Television Limited to open at $2.45, and during the day (based on 14 day Average True Range), to move between $2.39 and $2.51, which gives a possible trading interval of +/-$0.0553 (+/-2.26%) 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 4.51% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $2.80, some $0.350 (14.29%) from the current price of $2.45, our system finds the risk reward not very attractive.

Is SKY Network Television Limited stock A Buy?

SKY Network Television Limited 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: -2.783 Sell Candidate Unchanged

Predicted Opening Price for SKY Network Television Limited of Tuesday, June 4, 2024

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