Kandi Technologies Group Stock Forecast

A very strong day for Kandi Technologies Group stock price on Wednesday
(Updated on Apr 24, 2024)

KNDI Signals & Forecast

The Kandi Technologies Group stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.48 and $2.26. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Kandi Technologies Group has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -0.760%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Kandi Technologies Group stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.46 and $2.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kandi Technologies Group finds support just below today's level at $2.46. If this is broken, then the next support from accumulated volume will be at $2.40 and $2.12.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.209 between high and low, or 8.48%. For the last week, the stock has had daily average volatility of 11.93%.

The Kandi Technologies Group stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $2.51 (-3.72%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (KNDI) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Kandi Technologies Group to open at $2.58, and during the day (based on 14 day Average True Range), to move between $2.43 and $2.79, which gives a possible trading interval of +/-$0.180 (+/-6.89%) up or down from last closing price. If Kandi Technologies Group takes out the full calculated possible swing range there will be an estimated 13.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.63 (0.77%) than the support at $2.46 (5.75%), 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 Kandi Technologies Group stock A Buy?

Kandi Technologies Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.049 Hold/Accumulate Unchanged

Predicted Opening Price for Kandi Technologies Group of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.