Kingfish Ltd Stock Forecast
Kingfish Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 01, 2024)
No changes to the price of Kingfish Ltd stock on the last trading day (Wednesday, 1st May 2024). During the last trading day the stock fluctuated 0.81% from a day low at $1.23 to a day high of $1.24. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies the upper part of a narrow and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.24 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.23% during the next 3 months and, with a 90% probability hold a price between $1.15 and $1.20 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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KFL.NZ Signals & Forecast
The Kingfish Ltd 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 $1.23 and $1.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.65%. Further rise is indicated until a new top pivot has been found. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 4.88% to $1.29 within 28 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for Kingfish Ltd stock
Kingfish Ltd finds support from accumulated volume at $1.22 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0100 between high and low, or 0.81%. For the last week the stock has had daily average volatility of 0.98%
Our recommended stop-loss: $1.16 (-5.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (KFL.NZ) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Kingfish Ltd to open at $1.23, and during the day (based on 14 day Average True Range), to move between $1.22 and $1.24, which gives a possible trading interval of +/-$0.0148 (+/-1.21%) up or down from last closing price. If Kingfish Ltd takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.24 (0.81%) than the support at $1.22 (0.81%), 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 Kingfish Ltd stock A Buy?
Kingfish Ltd 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 Sell to a Hold/Accumulate candidate.
Current score: -0.939 Hold/Accumulate Upgraded
Predicted Opening Price for Kingfish Ltd of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $1.23 ( 0.271%) | $1.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KFL.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.24 | 1.08 % | |
| R2 | 1.24 | 0.773 % | ||
| R1 | 1.24 | 0.582 % | ||
| Current price: | 1.23 | |||
| Support | S1 | 1.23 | -0.0396 % | |
| S2 | 1.23 | -0.231 % | ||
| S3 | 1.22 | -0.542 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.27 | 3.25 % | |
| R2 | 1.25 | 1.63 % | ||
| R1 | 1.24 | 0.81 % | ||
| Current price | 1.23 | |||
| Support | S1 | 1.22 | -0.81% | |
| S2 | 1.21 | -1.63% | ||
| S3 | 0 | . |
KFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Mar 06, 2024 | Mar 28, 2024 | $0.0266 | 2.13% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | $0.0264 | 2.24% |
| 3 | Sep 06, 2023 | Sep 06, 2023 | Sep 06, 2023 | $0.0279 | 2.20% |
| 4 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | $0.0282 | 2.15% |
| 5 | Mar 08, 2023 | Mar 08, 2023 | Mar 08, 2023 | $0.0279 | 2.04% |
FAQ
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