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AI Analysis of SKWD
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Red day on Friday for Skyward Specialty Insurance Group, Inc.
(Updated on Apr 12, 2024)

Sell candidate since Apr 11, 2024 Loss -1.24% PDF

The Skyward Specialty Insurance Group, Inc. stock price fell by -1.24% on the last day (Friday, 12th Apr 2024) from $36.28 to $35.83. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.12% from a day low at $35.56 to a day high of $36.31. The price has fallen in 6 of the last 10 days and is down by -4.22% for this period. Volume has increased on the last day by 53 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 252 thousand shares were bought and sold for approximately $9.04 million.

The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $35.32 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.39% during the next 3 months and, with a 90% probability hold a price between $43.59 and $47.94 at the end of this 3-month period.

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SKWD Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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. On corrections up, there will be some resistance from the lines at $37.09 and $36.45. 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 -6.33%. Further fall is indicated until a new bottom pivot has been found. 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

Skyward Specialty Insurance Group, Inc. finds support from accumulated volume at $35.76 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.755 (2.12%) between high and low. For the last week, the stock has had daily average volatility of 2.62%.

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 15th

For the upcoming trading day on Monday, 15th we expect Skyward Specialty Insurance Group, Inc. to open at $35.90, and during the day (based on 14 day Average True Range), to move between $34.88 and $36.78, which gives a possible trading interval of +/-$0.95 (+/-2.65%) 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 5.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $35.87 (0.11%) than the support at $35.76 (0.20%), 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: -1.509 Sell Candidate Unchanged

Predicted Opening Price for Skyward Specialty Insurance Group, Inc. of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$35.90 ( 0.191%) $35.83

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

Trading levels for SKWD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 36.65 2.30 %
R2 36.36 1.49 %
R1 36.19 1.00 %
Current price: 35.83
Support S1 35.61 -0.614 %
S2 35.43 -1.11 %
S3 35.14 -1.92 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 36.59 2.12 %
R2 35.98 0.419 %
R1 35.87 0.112 %
Current price 35.83
Support S1 35.76 -0.195%
S2 34.67 -3.24%
S3 34.15 -4.69%

FAQ

What is the symbol for Skyward Specialty Insurance Group, Inc. Stock and on which exchange is it traded?
The symbol for Skyward Specialty Insurance Group, Inc. is SKWD and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Skyward Specialty Insurance Group, Inc. Stock?
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.

How to buy Skyward Specialty Insurance Group, Inc. Stock?
Skyward Specialty Insurance Group, Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Skyward Specialty Insurance Group, Inc. Stock.

What's the current price of Skyward Specialty Insurance Group, Inc. Stock?
As of the end of day on the 2024-04-12, the price of an Skyward Specialty Insurance Group, Inc. (SKWD) share was $35.83.

What is the 52-week high and low for Skyward Specialty Insurance Group, Inc. Stock?
The 52-week high for Skyward Specialty Insurance Group, Inc. Stock is $38.62 and the 52-week low is $20.79.

What is the market capitalization of Skyward Specialty Insurance Group, Inc. Stock?
As of the 2024-04-12, the market capitalization of Skyward Specialty Insurance Group, Inc. is 1.433B.

When is the next earnings date for Skyward Specialty Insurance Group, Inc.?
The upcoming earnings date for Skyward Specialty Insurance Group, Inc. is May 01, 2024.
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