SKF Stock ProShares UltraShort Financials (SKF, $33.51) RSI Indicator left the oversold zone on November 15, 2024

GET DAILY SIGNALS

Get AI intraday signals

SKF - ProShares UltraShort Financials

RSI signal

View

Odds of UP Trend

Price: $33.51

Daily change: -$0.33 (-0.98%)

Daily volume: 22.2K

Net Assets: $10.8M

SKF in upward trend: price may ascend as a result of having broken its lower Bollinger Band on November 06, 2024

SKF may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 35 cases where SKF's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Indicator entered the oversold zone -- be on the watch for SKF's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 6 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.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SKF advanced for three days, in of 268 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on November 06, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SKF as a result. In of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for SKF turned negative on November 06, 2024. 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 44 similar instances when the indicator turned negative. In of the 44 cases the stock turned lower in the days that followed. This puts the odds of success at .

The 50-day moving average for SKF moved below the 200-day moving average on November 01, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

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 .

The Aroon Indicator for SKF entered a downward trend on November 15, 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.