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* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of SKX
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Skechers USA Inc stock price down 0.109% on Thursday
(Updated on Jun 20, 2024)

Buy or Hold candidate since Apr 30, 2024 Gain 10.64% PDF

The Skechers USA Inc stock price fell by -0.109% on the last day (Thursday, 20th Jun 2024) from $73.16 to $73.08. During the last trading day the stock fluctuated 2.18% from a day low at $72.39 to a day high of $73.97. The price has risen in 6 of the last 10 days and is up by 3.22% over the past 2 weeks. Volume has increased on the last day by 11 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, 1 million shares were bought and sold for approximately $82.05 million.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 30.71% during the next 3 months and, with a 90% probability hold a price between $89.53 and $99.26 at the end of this 3-month period.

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SKX Signals & Forecast

The Skechers USA Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $73.34. On a fall, the stock will find some support from the long-term average at approximately $69.78. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -1.91%. 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 Skechers USA Inc stock

Skechers USA Inc finds support from accumulated volume at $72.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $1.58 between high and low, or 2.18%. For the last week, the stock has had daily average volatility of 2.00%.

Our recommended stop-loss: $70.31 (-3.79%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 47 days ago.)

Trading Expectations (SKX) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Skechers USA Inc to open at $73.15, and during the day (based on 14 day Average True Range), to move between $71.53 and $74.63, which gives a possible trading interval of +/-$1.55 (+/-2.13%) up or down from last closing price. If Skechers USA Inc takes out the full calculated possible swing range there will be an estimated 4.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $72.87 (0.29%) than the resistance at $73.75 (0.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Skechers USA Inc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Skechers USA Inc stock to perform well in the short-term.

Current score: 1.589 Buy Candidate Unchanged

Predicted Opening Price for Skechers USA Inc of Friday, June 21, 2024

Fair opening price June 21, 2024 Current price
$73.15 ( 0.0912%) $73.08

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

Trading levels for SKX

Fibonacci Support & Resistance Levels

Level Price
R3 74.73 2.25%
R2 74.12 1.43%
R1 73.75 0.92%
Price 73.08
S1 72.54 -0.735%
S2 72.17 -1.24%
S3 71.57 -2.07%

Accumulated Volume Support & Resistance Levels

Level Price
R3 74.50 1.94%
R2 73.92 1.15%
R1 73.75 0.92%
Price 73.08
S1 72.87 -0.287%
S2 65.41 -10.50%
S3 56.41 -22.81%

FAQ

What is the symbol for Skechers USA Inc Stock and on which exchange is it traded?
The symbol for Skechers USA Inc is SKX and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Skechers USA Inc Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Skechers USA Inc stock to perform well in the short-term.

How to buy Skechers USA Inc Stock?
Skechers USA 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 Skechers USA Inc Stock.

What's the current price of Skechers USA Inc Stock?
As of the end of day on the Jun 20, 2024, the price of an Skechers USA Inc (SKX) share was $73.08.

What is the 52-week high and low for Skechers USA Inc Stock?
The 52-week high for Skechers USA Inc Stock is $75.09 and the 52-week low is $45.58.

What is the market capitalization of Skechers USA Inc Stock?
As of the Jun 20, 2024, the market capitalization of Skechers USA Inc is 11.146B.

When is the next earnings date for Skechers USA Inc?
The upcoming earnings date for Skechers USA Inc is Jul 25, 2024.
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About Skechers USA Inc

Skechers USA Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, M... SKX Profile

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