Swing Trader Downtrend Protection v.2 Powers 15.33% Rise for SKLZ Stock
Swing Trader: Downtrend Protection v.2 (TA) Yields 15.33% Returns for Skillz Inc.
For swing traders, understanding the market dynamics is crucial to seize short-term investment opportunities. The recent performance of Skillz Inc. (SKLZ) is a testament to this fact. This mobile gaming and esports platform has exhibited an impressive uptrend, courtesy of the Downtrend Protection v.2 (TA), generating a staggering 15.33% in returns.
The Technical Analysis tool, Downtrend Protection v.2, has been instrumental in indicating when a shift from a downtrend to an uptrend occurs. This tool monitors stock price movements and uses this data to forecast future price trends. It is especially valuable for swing traders who operate on short-term market fluctuations.
In the case of Skillz Inc., this innovative tool successfully signaled the switch from a bearish to a bullish trend, enabling traders to capitalize on the stock's positive momentum.
The SKLZ stock also made headlines with an extraordinary surge in trade volume. The company experienced a record-breaking daily growth of 674% of its 65-Day Volume Moving Average. This remarkable rise indicates a massive interest in the stock from traders and investors alike. It is a crucial barometer of the bullish sentiment surrounding Skillz Inc., revealing the confidence of market participants in the stock's potential.
Increased trading volume often precedes significant price movement. This can be especially pertinent for swing traders as they often look for stocks with growing trading volumes for potential trading opportunities. The surge in trading volume for SKLZ, thus, signals a conducive environment for swing traders to take positions and gain considerable returns.
In summary, the performance of Skillz Inc. has been exceptional, with the stock yielding a noteworthy 15.33% return due to the application of Downtrend Protection v.2 (TA). The spike in trading volume, combined with the early detection of the uptrend by the TA tool, has created a robust opportunity for swing traders. As we continue to monitor the stock's performance, one thing is clear: swing traders, armed with the right tools and analysis, can extract significant value even in the short term.
SKLZ in upward trend: price rose above 50-day moving average on October 28, 2024
SKLZ moved above its 50-day moving average on October 28, 2024 date and that indicates a change from a downward trend to an upward trend. In of 30 similar past instances, the stock price increased further within 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 October 21, 2024. You may want to consider a long position or call options on SKLZ as a result. In of 73 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for SKLZ just turned positive on October 11, 2024. Looking at past instances where SKLZ's MACD turned positive, the stock continued to rise in of 38 cases over the following month. 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 SKLZ advanced for three days, in of 221 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SKLZ declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
SKLZ broke above its upper Bollinger Band on October 22, 2024. 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.
The Aroon Indicator for SKLZ entered a downward trend on October 21, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued 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 (0.580) is normal, around the industry mean (30.698). P/E Ratio (0.000) is within average values for comparable stocks, (161.895). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.738). Dividend Yield (0.000) settles around the average of (0.083) among similar stocks. P/S Ratio (0.854) is also within normal values, averaging (55.771).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. SKLZ’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
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 PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average 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 Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SKLZ’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 88, placing this stock worse than average.
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General Information
a blank check company, which intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization
Industry PackagedSoftware