Thursday, July 27, 2016 3.38 PM / Proshare Research
Analysis of trading pattern on the share price of SKYEBANK in the last 15days reveals active speculative tendency from investors- an indication of weak investors loyalty in the recent times.
Further analysis on price performance also revealed low risk appetite towards the stock as 15days aggregate price performance closed lower at -27.62% against 10days price performance of -17.89%. Also, the daily average loss as at July 27, 2016 came in stronger at -3.12% against previous daily average loss of -2.97%- this suggests sustained bearish sentiments from the short term investors.
In addition, extensive analysis revealed a pull-back in price recovery mission while the last five days (i.e. 21th -27th July 2016) were modestly bearish as the stock shed -2.56% of its market value against +30% gain recorded in the previous review. There is a strong indication that the stock would post a significant loss for the trading week.
Volume analysis revealed a sustained bearish tendency towards the stock as total bearish volume traded stood at 502.98million in the last 15days, representing 4% of its total shares outstanding.
Conclusively, the share price of SKYEBANK closed as the worst performing among its banking peers in the last 15days as peer analysis had suggested.
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