Kenon Holdings Ltd Stock Forecast

Stronger technical forecast for Kenon Holdings Ltd stock price after Friday trading.
(Updated on May 03, 2024)

KEN Signals & Forecast

Mostly positive signals in the chart today. The Kenon Holdings Ltd 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 $22.45 and $23.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 18.31%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Kenon Holdings 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. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Kenon Holdings Ltd stock

Kenon Holdings Ltd finds support from accumulated volume at $22.79 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 $0.610 between high and low, or 2.69%. For the last week, the stock has had daily average volatility of 2.54%.

The Kenon Holdings Ltd stock is extremely overbought on RSI14 (86). This increases the short-term risk substantially. Since the Kenon Holdings Ltd has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $22.50 (-3.28%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (KEN) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Kenon Holdings Ltd to open at $23.06, and during the day (based on 14 day Average True Range), to move between $22.53 and $23.99, which gives a possible trading interval of +/-$0.734 (+/-3.16%) up or down from last closing price. If Kenon Holdings Ltd takes out the full calculated possible swing range there will be an estimated 6.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $22.79 (2.02%) than the resistance at $27.13 (16.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Kenon Holdings Ltd stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.602 Buy Candidate Upgraded

Predicted Opening Price for Kenon Holdings Ltd of Monday, May 6, 2024

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