Skyward Specialty Insurance Group, Inc. Stock Forecast

A very red day for Skyward Specialty Insurance Group, Inc. stock price after a -6.95% fall in the Friday trading session
(Updated on Apr 26, 2024)

SKWD Signals & Forecast

There are few to no technical positive signals at the moment. The Skyward Specialty Insurance Group, Inc. 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 $35.74 and $36.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -12.52%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Skyward Specialty Insurance Group, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $31.50 and $30.13. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Skyward Specialty Insurance Group, Inc. finds support just below today's level at $31.50. If this is broken, then the next support from accumulated volume will be at $30.13 and $29.76.

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 $2.50 between high and low, or 7.51%. For the last week, the stock has had daily average volatility of 2.96%.

Skyward Specialty Insurance Group, Inc. is oversold on RSI14 (25). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (SKWD) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Skyward Specialty Insurance Group, Inc. to open at $34.17, and during the day (based on 14 day Average True Range), to move between $32.43 and $34.49, which gives a possible trading interval of +/-$1.03 (+/-3.09%) up or down from last closing price. If Skyward Specialty Insurance Group, Inc. takes out the full calculated possible swing range there will be an estimated 6.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.15 (2.06%) than the support at $31.50 (5.86%), 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 Skyward Specialty Insurance Group, Inc. stock A Buy?

The Skyward Specialty Insurance Group, Inc. stock holds several negative signals and despite the positive trend, we believe Skyward Specialty Insurance Group, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.914 Sell Candidate Unchanged

Predicted Opening Price for Skyward Specialty Insurance Group, Inc. of Monday, April 29, 2024

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