SkyWater Technology, Inc. Stock Forecast
Green day on Tuesday for SkyWater Technology, Inc. stock after gaining 1.32%
(Updated on Jul 02, 2024)
The SkyWater Technology, Inc. stock price gained 1.32% on the last trading day (Tuesday, 2nd Jul 2024), rising from $7.57 to $7.67. During the last trading day the stock fluctuated 2.12% from a day low at $7.56 to a day high of $7.72. The price has been going up and down for this period, and there has been a -4.24% loss for the last 2 weeks. Volume fell on the last day by -74 thousand shares and in total, 147 thousand shares were bought and sold for approximately $1.13 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $7.32, a level that may pose a second chance to hit a runner. According to fan-theory $9.61 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SKYT Signals & Forecast
There are few to no technical positive signals at the moment. The SkyWater Technology, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.86. On a fall, the stock will find some support from the short-term average at $7.53. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -11.53%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for SkyWater Technology, Inc. stock
SkyWater Technology, Inc. finds support from accumulated volume at $7.65 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.160 between high and low, or 2.12%. For the last week the stock has had daily average volatility of 3.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKYT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect SkyWater Technology, Inc. to open at $7.65, and during the day (based on 14 day Average True Range), to move between $7.28 and $8.06, which gives a possible trading interval of +/-$0.389 (+/-5.08%) up or down from last closing price. If SkyWater Technology, Inc. takes out the full calculated possible swing range there will be an estimated 10.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.65 (0.26%) than the resistance at $7.76 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SkyWater Technology, Inc. stock A Buy?
SkyWater Technology, Inc. holds several negative signals and is within a very 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: -4.360 Sell Candidate Unchanged
Predicted Opening Price for SkyWater Technology, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $7.65 ( 0.261%) | $7.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKYT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.81 | 1.83% |
| R2 | 7.75 | 1.03% |
| R1 | 7.71 | 0.536% |
| Price | 7.67 | |
| S1 | 7.59 | -1.06% |
| S2 | 7.55 | -1.55% |
| S3 | 7.49 | -2.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.38 | 9.26% |
| R2 | 8.18 | 6.65% |
| R1 | 7.76 | 1.17% |
| Price | 7.67 | |
| S1 | 7.65 | -0.261% |
| S2 | 7.64 | -0.391% |
| S3 | 6.65 | -13.30% |
FAQ
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