SKM Price Prediction Next Week
Technical Analysis: Based on the recent price action, SKM has shown a bullish trend with an upward momentum. The stock closed at $21.86 on February 14, 2025, gaining 0.23%. The stock has been trading in a relatively tight range between $21.83 and $21.95 during the last session.
Support and Resistance Levels:
- Key Support: $21.83 (accumulated volume support)
- Key Resistance: $22.19 (near-term resistance)
- Secondary Support: $21.53 (moving average support)
News Impact Analysis: Recent news indicates positive sentiment for SKM and the telecom sector:
- Morgan Stanley highlighted that successful AI implementation could boost the telecom sector's free cash flow margins by 400 basis points
- SKM is among Morgan Stanley's preferred stocks in the telecom sector, citing potential benefits from AI integration
Price Prediction for Next Week: Based on technical analysis and current market conditions:
- Expected trading range: $21.58 - $22.14
- Most likely scenario: Bullish continuation with target of $22.19 (first resistance level)
- Probability: 70% chance of reaching the target due to:
- Strong volume support at current levels
- Positive sector sentiment regarding AI implementation
- Upward momentum in recent trading sessions
Trading Recommendation: BUY at current levels ($21.86) with:
- Target: $22.19 (+1.49%)
- Stop loss: $21.53 (-1.51%)
- Risk/Reward ratio: 1:1
SKM Similar Chart Price Prediction
The price of SKM is predicted to go up -14.69%, based on the high correlation periods with ALLK. The similarity of these two price pattern on the periods is 94.15%.
SKM
ALLK
Down: -14.69%Similarity: 94.15%
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SKM VS S&P500
Telecom leads the South Korean wireless telecom market with around 45% share and this gives it some scale efficiency benefits.
Although wireless operating profit nearly halved from 2017 to 2019, it has returned to growth from 2020 to 2023.
The new company structure should limit the investments management makes in noncore activities, as most are likely to be made through SK Square.
