Skyline Corp Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Skyline Corp stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 07, 2024)
The Skyline Corp stock price fell by -0.401% on the last day (Tuesday, 7th May 2024) from $79.89 to $79.57. During the last trading day the stock fluctuated 1.90% from a day low at $79.57 to a day high of $81.08. The price has risen in 6 of the last 10 days and is up by 2.51% over the past 2 weeks. Volume has increased on the last day by 24 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, 122 thousand shares were bought and sold for approximately $9.68 million.
The stock lies in the middle of a 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 -6.92% during the next 3 months and, with a 90% probability hold a price between $67.07 and $76.78 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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SKY Signals & Forecast
The Skyline Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $77.63 and $79.25. 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 Monday, May 06, 2024, and so far it has fallen -0.401%. 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.
A sell signal from a double top formation was found on Thursday, March 21, 2024 and based on theory for this formation the price should fall by -7.21% to $73.83 within 6 trading days since signal was issued (Wednesday, May 08, 2024).
Support, Risk & Stop-loss for Skyline Corp stock
Skyline Corp finds support from accumulated volume at $78.27 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 $1.51 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: $77.28 (-2.87%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SKY) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Skyline Corp to open at $80.07, and during the day (based on 14 day Average True Range), to move between $76.96 and $82.18, which gives a possible trading interval of +/-$2.61 (+/-3.29%) up or down from last closing price. If Skyline Corp takes out the full calculated possible swing range there will be an estimated 6.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $78.27 (1.63%) than the resistance at $81.65 (2.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Skyline Corp stock A Buy?
Skyline Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.476 Hold/Accumulate Downgraded
Predicted Opening Price for Skyline Corp of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $80.07 ( 0.633%) | $79.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.58 | 2.53 % | |
| R2 | 81.01 | 1.81 % | ||
| R1 | 80.65 | 1.36 % | ||
| Current price: | 79.57 | |||
| Support | S1 | 79.50 | -0.0924 % | |
| S2 | 79.14 | -0.540 % | ||
| S3 | 78.56 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.66 | 5.14 % | |
| R2 | 81.95 | 2.99 % | ||
| R1 | 81.65 | 2.61 % | ||
| Current price | 79.57 | |||
| Support | S1 | 78.27 | -1.63% | |
| S2 | 77.33 | -2.82% | ||
| S3 | 75.36 | -5.29% |
SKY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2018 | Jun 01, 2018 | May 31, 2018 | $0.624 | 1.97% |
| 2 | May 16, 2018 | May 24, 2018 | May 31, 2018 | $0.624 | 1.97% |
| 3 | Jul 25, 2011 | Sep 14, 2011 | Oct 03, 2011 | $0.0900 | 1.04% |
| 4 | Jun 01, 2011 | Jun 10, 2011 | Jul 01, 2011 | $0.0900 | 0.512% |
| 5 | Mar 01, 2011 | Mar 11, 2011 | Apr 01, 2011 | $0.180 | 0.89% |
FAQ
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