Knight Transportation Inc Stock Forecast
Knight Transportation Inc stock upgraded from Strong Sell Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Knight Transportation Inc stock price fell by -1.34% on the last day (Thursday, 18th Apr 2024) from $48.53 to $47.88. During the last trading day the stock fluctuated 2.85% from a day low at $47.44 to a day high of $48.79. The price has fallen in 7 of the last 10 days and is down by -10.25% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -7 million shares and in total, 5 million shares were bought and sold for approximately $227.61 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $46.67 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.43% during the next 3 months and, with a 90% probability hold a price between $40.41 and $46.51 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
There are few to no technical positive signals at the moment. 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 $50.35 and $53.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 07, 2024, and so far it has fallen -20.61%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Knight Transportation Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.35 between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 3.34%.
Knight Transportation Inc is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect Knight Transportation Inc to open at $48.04, and during the day (based on 14 day Average True Range), to move between $46.41 and $49.35, which gives a possible trading interval of +/-$1.47 (+/-3.07%) up or down from last closing price. If Knight Transportation Inc takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $48.53, some $0.650 (1.36%) from the current price of $47.88, our system finds the risk reward not very attractive.
Earnings coming up
Knight Transportation Inc will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.330. We will update the financials statements for Knight Transportation Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.62% in the first trading day after earnings release.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.604 Sell Candidate Upgraded
Predicted Opening Price for Knight Transportation Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $48.04 ( 0.327%) | $47.88 |
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 | 49.39 | 3.15 % | |
| R2 | 48.87 | 2.07 % | ||
| R1 | 48.55 | 1.40 % | ||
| Current price: | 47.88 | |||
| Support | S1 | 47.52 | -0.750 % | |
| S2 | 47.20 | -1.42 % | ||
| S3 | 46.69 | -2.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.90 | 20.93 % | |
| R2 | 52.08 | 8.77 % | ||
| R1 | 48.53 | 1.36 % | ||
| Current price | 47.88 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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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