Kingsway Financial Services Inc Stock Forecast
Kingsway Financial Services Inc stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Kingsway Financial Services Inc stock price gained 2.13% on the last trading day (Friday, 3rd May 2024), rising from $8.93 to $9.12. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.81% from a day low at $8.90 to a day high of $9.15. The price has risen in 7 of the last 10 days and is up by 5.68% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 19 thousand shares were bought and sold for approximately $171.95 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $9.23 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Kingsway Financial Services Inc stock with a 90% probability to be traded between $7.97 and $9.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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KFS Signals & Forecast
Mostly positive signals in the chart today. The Kingsway Financial Services Inc 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 $8.85 and $8.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 01, 2024, and so far it has risen 11.76%. 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). Kingsway Financial Services Inc 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 Kingsway Financial Services Inc stock
Kingsway Financial Services Inc finds support from accumulated volume at $8.92 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 $0.250 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 3.79%.
Our recommended stop-loss: $8.69 (-4.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (KFS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Kingsway Financial Services Inc to open at $9.06, and during the day (based on 14 day Average True Range), to move between $8.83 and $9.41, which gives a possible trading interval of +/-$0.285 (+/-3.13%) up or down from last closing price. If Kingsway Financial Services Inc takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.25 (1.43%) than the support at $8.92 (2.19%), 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 Kingsway Financial Services Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Kingsway Financial Services Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.616 Buy Candidate Upgraded
Predicted Opening Price for Kingsway Financial Services Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $9.06 ( 0.694%) | $9.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.31 | 2.05 % | |
| R2 | 9.21 | 1.00 % | ||
| R1 | 9.15 | 0.353 % | ||
| Current price: | 9.12 | |||
| Support | S1 | 8.96 | -1.74 % | |
| S2 | 8.90 | -2.39 % | ||
| S3 | 8.81 | -3.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.34 | 2.41 % | |
| R2 | 9.30 | 1.97 % | ||
| R1 | 9.25 | 1.43 % | ||
| Current price | 9.12 | |||
| Support | S1 | 8.92 | -2.19% | |
| S2 | 8.70 | -4.61% | ||
| S3 | 8.37 | -8.22% |
KFS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2009 | Jun 11, 2009 | Jun 30, 2009 | $0.0720 | 0.627% |
| 2 | Feb 20, 2009 | Mar 12, 2009 | Mar 31, 2009 | $0.0640 | 0.90% |
| 3 | Nov 05, 2008 | Dec 11, 2008 | Dec 31, 2008 | $0.240 | 1.10% |
| 4 | Aug 07, 2008 | Sep 11, 2008 | Sep 30, 2008 | $0.280 | 1.00% |
| 5 | May 07, 2008 | Jun 12, 2008 | Jun 30, 2008 | $0.296 | 0.85% |
FAQ
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