SciPlay Corporation (SCPL): Down -9.48% Today, Time To Sell This Stock?

The biggest losers of the session on the Wall Street include SciPlay Corporation (NASDAQ:SCPL), which fell -1.39 points or -9.48% to trade at $13.32 as last check. The stock closed last session at $14.71 and sets an active trading volume day with a reported 209537 contracts so far this session. SCPL shares had a relatively better volume day versus average trading capacity of 1.45 million shares, but with a 21.91 million float and a -1.87% run over a week, it’s definitely worth keeping an eye on. SCPL share price has been trading recently between $14.21 and $14.96. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $17.

The shorts are climbing into SciPlay Corporation (SCPL) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a rise in short interest in SCPL shares. While short interest still represents only 4.11% of SCPL’s float, the number of shares shorted have risen by 208156. The number of shares shorted advanced to 1108360 shares, up from 900204 shares during the preceding fortnight. With average daily trading volumes at 678185 shares, days to cover increased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Newly Public Video Game Firm SciPlay Initiated With Mostly Buy Ratings” and dated May 28, 2019.

Looking at the current readings for SciPlay Corporation, the two-week RSI stands at 0. This figure suggests that SCPL stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current SCPL readings is similarly very revealing as it has a stochastic reading of 15.83% at this stage. This figure means that SCPL share price today is being overbought.

Technical chart claims that SciPlay Corporation (SCPL) would settle between $15.04/share to $15.38/share level. However, if the stock price goes below the $14.29 mark, then the market for SciPlay Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $13.88 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.7. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Wedbush, assumed coverage of SCPL assigning Outperform rating, according to their opinion released on May 28. Stifel, analysts launched coverage of SciPlay Corporation (NASDAQ:SCPL) stock with a Buy recommendation, according to their flash note issued to investors on May 28. Analysts at RBC Capital Mkts, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to May 28.

SCPL equity has an average rating of 1.64, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated SciPlay Corporation (NASDAQ:SCPL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.