SkyWest (SKYW, $24.19) Signals a Promising Upward Trajectory with New Weekly Bullish Trend
SkyWest (SKYW, $24.19) has been on an impressive winning streak for consecutive weeks, with A.I.dvisor predicting a growth of 2% to $24.67 or more within the next week. This has made SKYW an attractive option for investors looking to gain exposure to the aviation industry.
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Furthermore, the odds of an Uptrend continuation are 80%, meaning that SKYW's positive momentum is expected to persist. This prediction is based on the technical analysis of SKYW's performance and is backed by A.I. algorithms that analyze historical data to make accurate forecasts.
However, it is important to note that SKYW's Stochastic Oscillator has remained in the overbought zone for 15 days. This suggests that a price pull-back may occur sooner rather than later. As a marketing and financial expert, we advise investors to remain vigilant and stay up-to-date with SKYW's price movements to avoid any unexpected surprises.
Despite the potential for a price pull-back, SKYW remains an attractive option for investors looking to gain exposure to the aviation industry. The company has a strong track record and has weathered many challenges in the past. Its current positive momentum suggests that SKYW is a sound investment option for those looking to capitalize on the bullish trend in the aviation industry.
SKYW's impressive performance, combined with A.I.dvisor's positive growth prediction, make it a strong contender for investors looking for growth opportunities. However, investors should remain mindful of the potential for a price pull-back and adjust their investment strategies accordingly.
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Momentum Indicator for SKYW turns negative, indicating new downward trend
SKYW saw its Momentum Indicator move below the 0 level on September 15, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 92 similar instances where the indicator turned negative. In of the 92 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for SKYW turned negative on September 13, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 42 similar instances when the indicator turned negative. In of the 42 cases the stock turned lower in the days that followed. This puts the odds of success at .
SKYW moved below its 50-day moving average on September 29, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for SKYW crossed bearishly below the 50-day moving average on September 26, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SKYW declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SKYW advanced for three days, in of 300 cases, the price rose further within the following month. The odds of a continued upward trend are .
SKYW may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. SKYW’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.804) is normal, around the industry mean (103.632). SKYW's P/E Ratio (62.112) is considerably higher than the industry average of (15.341). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.433). Dividend Yield (0.000) settles around the average of (0.041) among similar stocks. P/S Ratio (0.694) is also within normal values, averaging (0.955).
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SKYW’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 92, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
an operator of airlines
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SKYW and
Correlation & Price change
A.I.dvisor indicates that over the last year, SKYW has been loosely correlated with ALGT. These tickers have moved in lockstep 55% of the time. This A.I.-generated data suggests there is some statistical probability that if SKYW jumps, then ALGT could also see price increases.
| Ticker / NAME | Correlation To SKYW | 1D Price Change % | ||
|---|---|---|---|---|
| SKYW | 100% | -2.41% | ||
| ALGT - SKYW | 55% Loosely correlated | -1.73% | ||
| HA - SKYW | 52% Loosely correlated | -4.84% | ||
| DAL - SKYW | 51% Loosely correlated | -3.32% | ||
| AAL - SKYW | 51% Loosely correlated | -3.53% | ||
| ALK - SKYW | 51% Loosely correlated | -2.80% | ||
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