SK Telecom Co Ltd Stock Forecast
Stronger technical forecast for SK Telecom Co Ltd stock price after Thursday trading.
(Updated on Mar 28, 2024)
The SK Telecom Co Ltd stock price fell by -0.737% on the last day (Thursday, 28th Mar 2024) from $21.72 to $21.56. During the last trading day the stock fluctuated 1.18% from a day low at $21.55 to a day high of $21.80. The price has been going up and down for this period, and there has been a -4.26% loss for the last 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 -36 thousand shares and in total, 305 thousand shares were bought and sold for approximately $6.59 million.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $21.87. A reaction back to this level may hold a second chance to get out before further falls.
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SKM Signals & Forecast
There are few to no technical positive signals at the moment. The SK Telecom Co Ltd 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 $21.98 and $21.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -4.26%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for SK Telecom Co Ltd stock
SK Telecom Co Ltd finds support from accumulated volume at $21.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.255 between high and low, or 1.18%. For the last week the stock has had daily average volatility of 1.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SK Telecom Co Ltd to open at $21.64, and during the day (based on 14 day Average True Range), to move between $21.30 and $21.82, which gives a possible trading interval of +/-$0.256 (+/-1.19%) up or down from last closing price. If SK Telecom Co Ltd takes out the full calculated possible swing range there will be an estimated 2.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.72 (0.74%) than the support at $21.20 (1.67%), 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 SK Telecom Co Ltd stock A Buy?
The SK Telecom Co Ltd stock holds several negative signals and despite the positive trend, we believe SK Telecom Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.531 Sell Candidate Upgraded
Predicted Opening Price for SK Telecom Co Ltd of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$21.64 ( 0.348%) | $21.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.89 | 1.53 % | |
R2 | 21.79 | 1.08 % | ||
R1 | 21.73 | 0.800 % | ||
Current price: | 21.56 | |||
Support | S1 | 21.54 | -0.104 % | |
S2 | 21.48 | -0.383 % | ||
S3 | 21.38 | -0.83 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.24 | 3.15 % | |
R2 | 22.13 | 2.64 % | ||
R1 | 21.72 | 0.742 % | ||
Current price | 21.56 | |||
Support | S1 | 21.20 | -1.67% | |
S2 | 20.40 | -5.38% | ||
S3 | 20.18 | -6.40% |
SKM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 28, 2023 | Sep 28, 2023 | Nov 21, 2023 | $0.280 | 1.25% |
2 | Jun 09, 2023 | Jun 29, 2023 | Aug 18, 2023 | $0.280 | 1.44% |
3 | Mar 07, 2023 | Mar 30, 2023 | May 17, 2023 | $0.280 | 1.37% |
4 | Dec 12, 2022 | Dec 29, 2022 | May 04, 2023 | $0.280 | 1.39% |
5 | Sep 14, 2022 | Sep 29, 2022 | Nov 23, 2022 | $0.280 | 1.34% |
FAQ
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