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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SKYW's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for SKYW turned positive on May 25, 2023. Looking at past instances where SKYW's MACD turned positive, the stock continued to rise in of 40 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 18, 2023. You may want to consider a long position or call options on SKYW as a result. In of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SKYW advanced for three days, in of 295 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 212 cases where SKYW Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 15 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 .
SKYW broke above its upper Bollinger Band on June 02, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put 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 fairly steady price growth. SKYW’s price grows at a lower 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 (0.678) is normal, around the industry mean (76.770). SKYW has a moderately high P/E Ratio (53.191) as compared to the industry average of (22.450). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.455). Dividend Yield (0.000) settles around the average of (0.041) among similar stocks. P/S Ratio (0.578) is also within normal values, averaging (1.075).
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 93, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
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
Industry Airlines
SKYW and
Correlation & Price change
A.I.dvisor indicates that over the last year, SKYW has been closely correlated with ALGT. These tickers have moved in lockstep 66% of the time. This A.I.-generated data suggests there is a high statistical probability that if SKYW jumps, then ALGT could also see price increases.
| Ticker / NAME | Correlation To SKYW | 1D Price Change % | ||
|---|---|---|---|---|
| SKYW | 100% | -0.23% | ||
| ALGT - SKYW | 66% Closely correlated | +0.01% | ||
| ALK - SKYW | 65% Loosely correlated | N/A | ||
| HA - SKYW | 64% Loosely correlated | +1.55% | ||
| DAL - SKYW | 64% Loosely correlated | +0.45% | ||
| AAL - SKYW | 63% Loosely correlated | +1.76% | ||
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