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 saw its Momentum Indicator move below the 0 level on September 05, 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 49 similar instances where the indicator turned negative. In of the 49 cases, the stock moved further down in the following days. The odds of a decline are at .
The Moving Average Convergence Divergence Histogram (MACD) for SKLZ turned negative on September 06, 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 27 similar instances when the indicator turned negative. In of the 27 cases the stock turned lower in the days that followed. This puts the odds of success at .
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 .
The Aroon Indicator for SKLZ entered a downward trend on September 22, 2023. 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 RSI Indicator shows that the ticker has stayed in the oversold zone for 8 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 13 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
SKLZ may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call 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 (0.415) is normal, around the industry mean (21.049). P/E Ratio (0.000) is within average values for comparable stocks, (152.713). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.638). Dividend Yield (0.000) settles around the average of (0.088) among similar stocks. P/S Ratio (0.530) is also within normal values, averaging (74.081).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average 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 90, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a blank check company, which intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization
A.I.dvisor indicates that over the last year, SKLZ has been loosely correlated with COIN. These tickers have moved in lockstep 64% of the time. This A.I.-generated data suggests there is some statistical probability that if SKLZ jumps, then COIN could also see price increases.