EW Scripps Company (The) Stock Forecast
EW Scripps Company (The) stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The EW Scripps Company (The) stock price gained 1.61% on the last trading day (Tuesday, 23rd Apr 2024), rising from $3.72 to $3.78. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 6.56% from a day low at $3.66 to a day high of $3.90. The price has risen in 6 of the last 10 days and is up by 5.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 80 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $3.82 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $4.05 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -56.00% during the next 3 months and, with a 90% probability hold a price between $0.87 and $1.78 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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SSP Signals & Forecast
Mostly positive signals in the chart today. The EW Scripps Company (The) 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 $3.45 and $3.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 20.77%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for EW Scripps Company (The) stock
EW Scripps Company (The) finds support from accumulated volume at $3.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.240 between high and low, or 6.56%. For the last week, the stock has had daily average volatility of 9.12%.
Since the EW Scripps Company (The) has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $3.64 (-3.82%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (SSP) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect EW Scripps Company (The) to open at $3.78, and during the day (based on 14 day Average True Range), to move between $3.44 and $4.12, which gives a possible trading interval of +/-$0.339 (+/-8.97%) 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 17.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.72 (1.59%) than the resistance at $3.93 (3.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.707 Buy Candidate Upgraded
Predicted Opening Price for EW Scripps Company (The) of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $3.78 ( 0%) | $3.78 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 4.02 | 6.35 % | |
| R2 | 3.93 | 3.92 % | ||
| R1 | 3.87 | 2.43 % | ||
| Current price: | 3.78 | |||
| Support | S1 | 3.69 | -2.43 % | |
| S2 | 3.63 | -3.92 % | ||
| S3 | 3.54 | -6.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.61 | 21.96 % | |
| R2 | 4.34 | 14.81 % | ||
| R1 | 3.93 | 3.97 % | ||
| Current price | 3.78 | |||
| Support | S1 | 3.72 | -1.59% | |
| S2 | 3.45 | -8.73% | ||
| S3 | 3.28 | -13.23% |
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% |
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