Kimball Electronics Stock Forecast
Stronger technical forecast for Kimball Electronics stock price after Wednesday trading.
(Updated on May 01, 2024)
The Kimball Electronics stock price gained 0.287% on the last trading day (Wednesday, 1st May 2024), rising from $20.93 to $20.99. During the last trading day the stock fluctuated 2.33% from a day low at $20.84 to a day high of $21.32. The price has risen in 6 of the last 10 days and is up by 1.6% over the past 2 weeks. Volume fell on the last day by -46 thousand shares and in total, 84 thousand shares were bought and sold for approximately $1.77 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 wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.43% during the next 3 months and, with a 90% probability hold a price between $18.08 and $20.83 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KE Signals & Forecast
The Kimball Electronics 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 $21.02. On a fall, the stock will find some support from the long-term average at approximately $20.98. 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. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 4.53%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kimball Electronics stock
Kimball Electronics finds support from accumulated volume at $20.75 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 $0.485 between high and low, or 2.33%. For the last week the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: $20.04 (-4.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (KE) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Kimball Electronics to open at $21.05, and during the day (based on 14 day Average True Range), to move between $20.49 and $21.49, which gives a possible trading interval of +/-$0.497 (+/-2.37%) up or down from last closing price. If Kimball Electronics takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.75 (1.14%) than the resistance at $21.47 (2.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Kimball Electronics will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.400. We will update the financials statements for Kimball Electronics, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.29% in the first trading day after earnings release.
Is Kimball Electronics stock A Buy?
Kimball Electronics 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.265 Hold/Accumulate Upgraded
Predicted Opening Price for Kimball Electronics of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $21.05 ( 0.278%) | $20.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.53 | 2.59 % | |
| R2 | 21.35 | 1.71 % | ||
| R1 | 21.23 | 1.16 % | ||
| Current price: | 20.99 | |||
| Support | S1 | 20.86 | -0.605 % | |
| S2 | 20.75 | -1.15 % | ||
| S3 | 20.56 | -2.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.51 | 7.24 % | |
| R2 | 21.65 | 3.14 % | ||
| R1 | 21.47 | 2.29 % | ||
| Current price | 20.99 | |||
| Support | S1 | 20.75 | -1.14% | |
| S2 | 20.33 | -3.14% | ||
| S3 | 20.18 | -3.86% |
FAQ
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