SkyWest Stock Forecast
SkyWest stock price up 2.51% on Thursday
(Updated on Apr 25, 2024)
The SkyWest stock price gained 2.51% on the last trading day (Thursday, 25th Apr 2024), rising from $71.35 to $73.14. During the last trading day the stock fluctuated 5.41% from a day low at $69.53 to a day high of $73.29. The price has risen in 6 of the last 10 days and is up by 6.17% over the past 2 weeks. Volume fell on the last day by -194 thousand shares and in total, 550 thousand shares were bought and sold for approximately $40.20 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 stock lies in the middle of a 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 26.74% during the next 3 months and, with a 90% probability hold a price between $86.51 and $94.83 at the end of this 3-month period.
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SKYW Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -1.57%. 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). The SkyWest stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $70.58 and $68.41. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for SkyWest stock
On the downside, the stock finds support just below today's level from accumulated volume at $66.34 and $60.76. 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, SkyWest finds support just below today's level at $66.34. If this is broken, then the next support from accumulated volume will be at $60.76 and $58.51.
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 $3.76 between high and low, or 5.41%. For the last week, the stock has had daily average volatility of 4.70%.
Our recommended stop-loss: $70.31 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SKYW) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect SkyWest to open at $71.99, and during the day (based on 14 day Average True Range), to move between $70.62 and $75.66, which gives a possible trading interval of +/-$2.52 (+/-3.44%) up or down from last closing price. If SkyWest takes out the full calculated possible swing range there will be an estimated 6.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $74.31 (1.60%) than the support at $66.34 (9.30%), 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 SkyWest 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 SkyWest stock to perform well in the short-term.
Current score: 4.372 Buy Candidate Unchanged
Predicted Opening Price for SkyWest of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $71.99 ( 1.58%) | $73.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKYW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.75 | 3.56 % | |
| R2 | 74.31 | 1.60 % | ||
| R1 | 73.42 | 0.387 % | ||
| Current price: | 73.14 | |||
| Support | S1 | 70.55 | -3.54 % | |
| S2 | 69.66 | -4.75 % | ||
| S3 | 68.23 | -6.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 74.31 | 1.60 % | ||
| Current price | 73.14 | |||
| Support | S1 | 66.34 | -9.30% | |
| S2 | 60.76 | -16.93% | ||
| S3 | 58.51 | -20.00% |
SKYW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 04, 2020 | Mar 30, 2020 | Apr 06, 2020 | $0.140 | 0.622% |
| 2 | Nov 14, 2019 | Dec 30, 2019 | Jan 07, 2020 | $0.120 | 0.188% |
| 3 | Aug 07, 2019 | Sep 27, 2019 | Oct 04, 2019 | $0.120 | 0.216% |
| 4 | May 07, 2019 | Jun 27, 2019 | Jul 05, 2019 | $0.120 | 0.193% |
| 5 | Feb 06, 2019 | Mar 28, 2019 | Apr 04, 2019 | $0.120 | 0.210% |
FAQ
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