SKF ProShares UltraShort Financials Forecast, Technical & Fundamental Analysis

SKF's RSI Indicator leaves overbought zone

The 10-day RSI Oscillator for SKF moved out of overbought territory on December 20, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 27 instances where the indicator moved out of the overbought zone. In of the 27 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Technical Analysis (Indicators)

Bearish Trend Analysis

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SKF 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 suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 65 cases where SKF's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on January 07, 2025. You may want to consider a long position or call options on SKF as a result. In of 82 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

SKF moved above its 50-day moving average on December 27, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for SKF crossed bullishly above the 50-day moving average on December 26, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher 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 SKF advanced for three days, in of 262 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 107 cases where SKF Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .