KAR Auction Services Inc Stock Forecast
Green day on Tuesday for KAR Auction Services Inc
(Updated on Apr 23, 2024)
The KAR Auction Services Inc stock price gained 3.23% on the last trading day (Tuesday, 23rd Apr 2024), rising from $17.01 to $17.56. During the last trading day the stock fluctuated 4.55% from a day low at $16.88 to a day high of $17.65. The price has fallen in 7 of the last 10 days but is still up by 1.56% over the past 2 weeks. Volume fell on the last day by -801 thousand shares and in total, 611 thousand shares were bought and sold for approximately $10.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 28.23% during the next 3 months and, with a 90% probability hold a price between $21.59 and $23.18 at the end of this 3-month period.
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KAR Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen 0%. 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). The KAR Auction Services Inc 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 $17.20 and $16.77. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, February 16, 2024 in the short-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.
Golden Star
The stock had a Golden Star Signal on Friday, February 16, 2024 in the short-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 KAR Auction Services Inc stock
KAR Auction Services Inc finds support from accumulated volume at $17.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.768 between high and low, or 4.55%. For the last week the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: $16.96 (-3.40%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (KAR) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect KAR Auction Services Inc to open at $17.36, and during the day (based on 14 day Average True Range), to move between $17.16 and $17.96, which gives a possible trading interval of +/-$0.396 (+/-2.25%) up or down from last closing price. If KAR Auction Services Inc takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $17.01, some $0.550 (3.13%) from the current price of $17.56, our system finds the risk reward attractive.
Earnings coming up
KAR Auction Services Inc will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.210. We will update the financials statements for KAR Auction Services Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.35% in the first trading day after earnings release.
Is KAR Auction Services 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 KAR Auction Services Inc stock to perform well in the short-term.
Current score: 3.163 Buy Candidate Unchanged
Predicted Opening Price for KAR Auction Services Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $17.36 ( 1.12%) | $17.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KAR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.13 | 3.25 % | |
| R2 | 17.84 | 1.58 % | ||
| R1 | 17.66 | 0.545 % | ||
| Current price: | 17.56 | |||
| Support | S1 | 17.07 | -2.79 % | |
| S2 | 16.89 | -3.83 % | ||
| S3 | 16.60 | -5.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 17.56 | |||
| Support | S1 | 17.01 | -3.13% | |
| S2 | 14.69 | -16.34% | ||
| S3 | 14.66 | -16.51% |
KAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 18, 2020 | Mar 19, 2020 | Apr 03, 2020 | $0.190 | 2.00% |
| 2 | Nov 05, 2019 | Dec 19, 2019 | Jan 03, 2020 | $0.190 | 0.85% |
| 3 | Aug 06, 2019 | Sep 19, 2019 | Oct 03, 2019 | $0.190 | 0.81% |
| 4 | May 07, 2019 | May 31, 2019 | Jun 17, 2019 | $0.132 | 0.583% |
| 5 | Feb 19, 2019 | Mar 21, 2019 | Apr 04, 2019 | $0.132 | 0.669% |
FAQ
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