EW Scripps Company (The) Stock Forecast
Red day on Tuesday for EW Scripps Company (The) stock after losing 3.83%
(Updated on Jul 02, 2024)
The EW Scripps Company (The) stock price fell by -3.83% on the last day (Tuesday, 2nd Jul 2024) from $3.13 to $3.01. During the last trading day the stock fluctuated 7.06% from a day low at $2.91 to a day high of $3.11. The price has risen in 7 of the last 10 days and is up by 49.01% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -407 thousand shares and in total, 466 thousand shares were bought and sold for approximately $1.40 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.39% during the next 3 months and, with a 90% probability hold a price between $1.27 and $2.69 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSP Signals & Forecast
The EW Scripps Company (The) 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 $2.84 and $2.70. A breakdown below any of these levels will issue sell signals. 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 Friday, June 28, 2024, and so far it has fallen -4.14%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for EW Scripps Company (The) stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.79 and $2.72. 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, EW Scripps Company (The) finds support just below today's level at $2.79. If this is broken, then the next support from accumulated volume will be at $2.72 and $2.38.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.205 between high and low, or 7.06%. For the last week the stock has had daily average volatility of 8.27%.
Our recommended stop-loss: $2.88 (-4.45%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (SSP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect EW Scripps Company (The) to open at $3.01, and during the day (based on 14 day Average True Range), to move between $2.78 and $3.24, which gives a possible trading interval of +/-$0.227 (+/-7.54%) up or down from last closing price. If EW Scripps Company (The) takes out the full calculated possible swing range there will be an estimated 15.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.14 (4.32%) than the support at $2.79 (7.31%), 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 EW Scripps Company (The) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.724 Buy Candidate Unchanged
Predicted Opening Price for EW Scripps Company (The) of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$3.01 ( 0.0554%) | $3.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSP
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.21 | 6.76% |
R2 | 3.14 | 4.15% |
R1 | 3.09 | 2.55% |
Price | 3.01 | |
S1 | 2.93 | -2.66% |
S2 | 2.88 | -4.26% |
S3 | 2.80 | -6.87% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.61 | 19.77% |
R2 | 3.45 | 14.62% |
R1 | 3.14 | 4.32% |
Price | 3.01 | |
S1 | 2.79 | -7.31% |
S2 | 2.72 | -9.63% |
S3 | 2.38 | -20.93% |
SSP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 04, 2020 | Dec 14, 2020 | Dec 24, 2020 | $0.0500 | 0.347% |
2 | Aug 07, 2020 | Sep 14, 2020 | Sep 25, 2020 | $0.0500 | 0.430% |
3 | May 07, 2020 | Jun 12, 2020 | Jun 25, 2020 | $0.0500 | 0.579% |
4 | Feb 26, 2020 | Mar 13, 2020 | Mar 25, 2020 | $0.0500 | 0.571% |
5 | Nov 05, 2019 | Dec 12, 2019 | Dec 24, 2019 | $0.0500 | 0.319% |
FAQ
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