Kirby Corporation Stock Forecast
Evaluation of Kirby Corporation stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The Kirby Corporation stock price fell by -0.215% on the last day (Tuesday, 2nd Jul 2024) from $121.05 to $120.79. During the last trading day the stock fluctuated 0.96% from a day low at $120.12 to a day high of $121.27. The price has fallen in 6 of the last 10 days but is still up by 1.76% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -254 thousand shares and in total, 256 thousand shares were bought and sold for approximately $30.88 million.
The stock lies in the middle of a wide and 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 25.24% during the next 3 months and, with a 90% probability hold a price between $146.60 and $166.90 at the end of this 3-month period.
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KEX Signals & Forecast
The Kirby Corporation 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 $119.88 and $119.33. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -2.72%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Kirby Corporation stock
Kirby Corporation finds support from accumulated volume at $118.59 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 $1.15 between high and low, or 0.96%. For the last week the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: $114.78 (-4.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (KEX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Kirby Corporation to open at $120.73, and during the day (based on 14 day Average True Range), to move between $118.49 and $123.09, which gives a possible trading interval of +/-$2.30 (+/-1.91%) up or down from last closing price. If Kirby Corporation takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $121.74 (0.79%) than the support at $118.59 (1.82%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Kirby Corporation 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 Kirby Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.041 Buy Candidate Downgraded
Predicted Opening Price for Kirby Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$120.73 ( 0.0527%) | $120.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KEX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 121.88 | 0.90% |
R2 | 121.44 | 0.536% |
R1 | 121.17 | 0.311% |
Price | 120.79 | |
S1 | 120.29 | -0.417% |
S2 | 120.02 | -0.642% |
S3 | 119.58 | -1.01% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 124.17 | 2.80% |
R2 | 122.16 | 1.13% |
R1 | 121.74 | 0.786% |
Price | 120.79 | |
S1 | 118.59 | -1.82% |
S2 | 112.16 | -7.14% |
S3 | 112.00 | -7.28% |
KEX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 27, 1989 | Aug 08, 1989 | Sep 05, 1989 | $0.0500 | 1.11% |
2 | Jul 21, 1988 | Aug 09, 1988 | Sep 06, 1988 | $0.0500 | 2.42% |
FAQ
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