Karat Packaging Inc. Stock Forecast

Karat Packaging Inc. stock price ended at $27.83 on Thursday, after gaining 1.90%.
(Updated on May 02, 2024)

KRT Signals & Forecast

A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -4.27%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Karat Packaging Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $27.30 and $27.71. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Thursday, November 30, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Karat Packaging Inc. stock

Karat Packaging Inc. finds support from accumulated volume at $26.80 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.760 between high and low, or 2.81%. For the last week the stock has had daily average volatility of 2.10%.

Our recommended stop-loss: $26.65 (-4.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 29 days ago.)

Trading Expectations (KRT) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Karat Packaging Inc. to open at $27.58, and during the day (based on 14 day Average True Range), to move between $27.01 and $28.65, which gives a possible trading interval of +/-$0.82 (+/-2.94%) up or down from last closing price. If Karat Packaging Inc. takes out the full calculated possible swing range there will be an estimated 5.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $28.31 (1.72%) than the support at $26.80 (3.70%), 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 Karat Packaging Inc. stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 2.234 Buy Candidate Unchanged

Predicted Opening Price for Karat Packaging Inc. of Friday, May 3, 2024

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