Kelt Exploration Ltd. Stock Forecast
Stronger technical forecast for Kelt Exploration Ltd. stock price after Thursday trading.
(Updated on May 16, 2024)
The Kelt Exploration Ltd. stock price gained 1.93% on the last trading day (Thursday, 16th May 2024), rising from $4.14 to $4.22. During the last trading day the stock fluctuated 0% from a day low at $4.22 to a day high of $4.22. The price has fallen in 4 of the last 10 days and is down by -7.66% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $6.33 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.14 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.58% during the next 3 months and, with a 90% probability hold a price between $4.25 and $4.99 at the end of this 3-month period.
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KELTF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 1.93%. Further rise is indicated until a new top pivot has been found. Kelt Exploration Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kelt Exploration Ltd. 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 $4.27 and $4.50. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kelt Exploration Ltd. stock
Kelt Exploration Ltd. finds support from accumulated volume at $4.18 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.82%.
Kelt Exploration Ltd. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $3.97 (-5.98%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 16 which reduces the risk some. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (KELTF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Kelt Exploration Ltd. to open at $4.22, and during the day (based on 14 day Average True Range), to move between $4.15 and $4.29, which gives a possible trading interval of +/-$0.0699 (+/-1.66%) up or down from last closing price. If Kelt Exploration Ltd. takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.18 (0.88%) than the resistance at $4.26 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kelt Exploration Ltd. stock A Buy?
Kelt Exploration Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Kelt Exploration Ltd. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $4.22 ( 0%) | $4.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KELTF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.22 | . | |
| R2 | 4.22 | . | ||
| R1 | 4.22 | . | ||
| Current price: | 4.22 | |||
| Support | S1 | 4.22 | . | |
| S2 | 4.22 | . | ||
| S3 | 4.22 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.52 | 7.11 % | |
| R2 | 4.45 | 5.45 % | ||
| R1 | 4.26 | 0.95 % | ||
| Current price | 4.22 | |||
| Support | S1 | 4.18 | -0.88% | |
| S2 | 4.14 | -1.90% | ||
| S3 | 0 | . |
FAQ
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