Kennametal Inc Stock Forecast
Kennametal Inc stock price down 0.0384% on Friday
(Updated on May 17, 2024)
The Kennametal Inc stock price fell by -0.0384% on the last day (Friday, 17th May 2024) from $26.01 to $26.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.28% from a day low at $25.77 to a day high of $26.10. The price has fallen in 6 of the last 10 days but is still up by 5.95% over the past 2 weeks. 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 -158 thousand shares and in total, 535 thousand shares were bought and sold for approximately $13.91 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $26.44 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.14% during the next 3 months and, with a 90% probability hold a price between $24.15 and $27.00 at the end of this 3-month period.
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KMT Signals & Forecast
The Kennametal Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $26.07. On a fall, the stock will find some support from the long-term average at approximately $24.54. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 14, 2024, and so far it has fallen -1.55%. Further fall is indicated until a new bottom pivot has been found. 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 Kennametal Inc stock
Kennametal Inc finds support from accumulated volume at $25.35 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 $0.330 between high and low, or 1.28%. For the last week, the stock has had daily average volatility of 1.64%.
Our recommended stop-loss: $24.94 (-4.09%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (KMT) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Kennametal Inc to open at $25.96, and during the day (based on 14 day Average True Range), to move between $25.47 and $26.53, which gives a possible trading interval of +/-$0.534 (+/-2.05%) up or down from last closing price. If Kennametal Inc takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.03 (0.12%) than the support at $25.35 (2.50%), 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 Kennametal Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Kennametal Inc stock to perform well in the short-term.
Current score: 1.893 Buy Candidate Unchanged
Predicted Opening Price for Kennametal Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $25.96 ( 0.167%) | $26.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KMT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.29 | 1.10 % | |
| R2 | 26.16 | 0.618 % | ||
| R1 | 26.08 | 0.318 % | ||
| Current price: | 26.00 | |||
| Support | S1 | 25.83 | -0.652 % | |
| S2 | 25.75 | -0.95 % | ||
| S3 | 25.63 | -1.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.41 | 1.58 % | |
| R2 | 26.26 | 1.00 % | ||
| R1 | 26.03 | 0.115 % | ||
| Current price | 26.00 | |||
| Support | S1 | 25.35 | -2.50% | |
| S2 | 23.83 | -8.35% | ||
| S3 | 23.66 | -9.00% |
KMT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 28, 2024 | $0.200 | 0.769% |
| 2 | Jan 30, 2024 | Feb 12, 2024 | Feb 27, 2024 | $0.200 | 0.81% |
| 3 | Oct 24, 2023 | Nov 06, 2023 | Nov 21, 2023 | $0.200 | 0.87% |
| 4 | Aug 01, 2023 | Aug 08, 2023 | Aug 22, 2023 | $0.200 | 0.767% |
| 5 | Aug 01, 2023 | Aug 07, 2023 | Aug 22, 2023 | $0.200 | 0.767% |
FAQ
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