Kadant Inc Stock Forecast
Red day on Wednesday for Kadant Inc stock after losing 4.48%
(Updated on May 01, 2024)
The Kadant Inc stock price fell by -4.48% on the last day (Wednesday, 1st May 2024) from $273.79 to $261.52. During the last trading day the stock fluctuated 8.03% from a day low at $249.51 to a day high of $269.54. The price has fallen in 6 of the last 10 days and is down by -8.27% for this period. Volume has increased on the last day by 191 thousand 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, 310 thousand shares were bought and sold for approximately $81.04 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 $258.15 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.99% during the next 3 months and, with a 90% probability hold a price between $232.36 and $280.09 at the end of this 3-month period.
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KAI Signals & Forecast
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. The Kadant 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 $279.97 and $302.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -23.22%. Further fall is indicated until a new bottom pivot has been found. 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 Kadant 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 $20.03 between high and low, or 8.03%. For the last week, the stock has had daily average volatility of 3.89%.
Kadant Inc is oversold on RSI14 (23). 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 (KAI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Kadant Inc to open at $260.19, and during the day (based on 14 day Average True Range), to move between $252.41 and $270.63, which gives a possible trading interval of +/-$9.11 (+/-3.48%) up or down from last closing price. If Kadant Inc takes out the full calculated possible swing range there will be an estimated 6.97% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $304.13, some $42.61 (16.29%) from the current price of $261.52, our system finds the risk reward not very attractive.
Is Kadant Inc stock A Buy?
Kadant 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: -3.728 Sell Candidate Unchanged
Predicted Opening Price for Kadant Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $260.19 ( 0.509%) | $261.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KAI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 280.22 | 7.15 % | |
| R2 | 272.57 | 4.22 % | ||
| R1 | 267.84 | 2.42 % | ||
| Current price: | 261.52 | |||
| Support | S1 | 252.54 | -3.43 % | |
| S2 | 247.81 | -5.24 % | ||
| S3 | 240.16 | -8.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 317.14 | 21.27 % | |
| R2 | 315.64 | 20.69 % | ||
| R1 | 304.13 | 16.29 % | ||
| Current price | 261.52 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
KAI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Apr 09, 2024 | May 08, 2024 | $0.320 | 0.122% |
| 2 | Nov 16, 2023 | Jan 03, 2024 | Feb 01, 2024 | $0.290 | 0.0995% |
| 3 | Sep 07, 2023 | Oct 11, 2023 | Nov 09, 2023 | $0.290 | 0.118% |
| 4 | May 18, 2023 | Jul 12, 2023 | Aug 10, 2023 | $0.290 | 0.136% |
| 5 | Mar 08, 2023 | Apr 11, 2023 | May 10, 2023 | $0.290 | 0.150% |
FAQ
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