Knight Transportation Inc Stock Forecast
Red day on Wednesday for Knight Transportation Inc
(Updated on Apr 24, 2024)
The Knight Transportation Inc stock price fell by -1.46% on the last day (Wednesday, 24th Apr 2024) from $49.23 to $48.51. During the last trading day the stock fluctuated 2.57% from a day low at $47.92 to a day high of $49.15. The price has been going up and down for this period, and there has been a -5.88% loss for the last 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $158.64 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.72% during the next 3 months and, with a 90% probability hold a price between $39.31 and $43.29 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KNX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.32%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Knight Transportation Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $48.75 and $52.75. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Knight Transportation Inc stock
Knight Transportation Inc finds support from accumulated volume at $48.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.23 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KNX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Knight Transportation Inc to open at $48.53, and during the day (based on 14 day Average True Range), to move between $47.14 and $49.88, which gives a possible trading interval of +/-$1.37 (+/-2.82%) up or down from last closing price. If Knight Transportation Inc takes out the full calculated possible swing range there will be an estimated 5.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.53 (0.04%) than the support at $48.15 (0.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Knight Transportation Inc stock A Buy?
Knight Transportation Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.047 Sell Candidate Unchanged
Predicted Opening Price for Knight Transportation Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $48.53 ( 0.0344%) | $48.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KNX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.76 | 2.57 % | |
| R2 | 49.29 | 1.60 % | ||
| R1 | 49.00 | 1.00 % | ||
| Current price: | 48.51 | |||
| Support | S1 | 48.06 | -0.93 % | |
| S2 | 47.77 | -1.53 % | ||
| S3 | 47.30 | -2.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.90 | 19.36 % | |
| R2 | 52.08 | 7.36 % | ||
| R1 | 48.53 | 0.0412 % | ||
| Current price | 48.51 | |||
| Support | S1 | 48.15 | -0.742% | |
| S2 | 48.14 | -0.763% | ||
| S3 | 47.88 | -1.30% |
KNX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Mar 07, 2024 | Mar 25, 2024 | $0.160 | 0.307% |
| 2 | Nov 13, 2023 | Dec 07, 2023 | Dec 22, 2023 | $0.140 | 0.238% |
| 3 | Jul 27, 2023 | Sep 07, 2023 | Sep 25, 2023 | $0.140 | 0.275% |
| 4 | Apr 28, 2023 | Jun 08, 2023 | Jun 27, 2023 | $0.140 | 0.252% |
| 5 | Feb 03, 2023 | Mar 02, 2023 | Mar 27, 2023 | $0.140 | 0.253% |
FAQ
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