Knafaim Holdings Ltd. Stock Forecast
Knafaim Holdings Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 24, 2024)
The Knafaim Holdings Ltd. stock price fell by -0.206% on the last day (Monday, 24th Jun 2024) from ₪973.10 to ₪971.10. During the last trading day the stock fluctuated 0.735% from a day low at ₪966.00 to a day high of ₪973.10. The price has fallen in 5 of the last 10 days and is down by -3.18% for this period. Volume has increased on the last day by 34 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 34 shares were bought and sold for approximately ₪33.02 thousand.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₪953.39 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Knafaim Holdings Ltd. stock with a 90% probability to be traded between ₪937.59 and ₪1,101.70 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.
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KNFM.TA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 0.601%. 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. The Knafaim Holdings 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 ₪976.50 and ₪1,019.29. 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). Knafaim Holdings Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, February 06, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, February 06, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Tuesday, June 18, 2024 and based on theory for this formation the price should go up by 19.06% to ₪1,156.21 within 37 trading days since signal was issued (Thursday, August 08, 2024).
Support, Risk & Stop-loss for Knafaim Holdings Ltd. stock
Knafaim Holdings Ltd. finds support from accumulated volume at ₪968.40 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 ₪7.10 between high and low, or 0.735%. For the last week, the stock has had daily average volatility of 1.36%.
Knafaim Holdings Ltd. is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: ₪915.94 (-5.68%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 13 which reduces the risk some. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (KNFM.TA) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Knafaim Holdings Ltd. to open at ₪970.07, and during the day (based on 14 day Average True Range), to move between ₪949.48 and ₪992.72, which gives a possible trading interval of +/-₪21.62 (+/-2.23%) up or down from last closing price. If Knafaim Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 4.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪968.40 (0.28%) than the resistance at ₪980.60 (0.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Knafaim Holdings Ltd. stock A Buy?
Knafaim Holdings 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 Knafaim Holdings Ltd. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₪970.07 ( 0.106%) | ₪971.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KNFM.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 977.17 | 0.625% |
| R2 | 974.45 | 0.345% |
| R1 | 972.78 | 0.173% |
| Price | 971.10 | |
| S1 | 967.35 | -0.386% |
| S2 | 965.68 | -0.558% |
| S3 | 962.97 | -0.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,125.00 | 15.85% |
| R2 | 1,025.00 | 5.55% |
| R1 | 980.60 | 0.98% |
| Price | 971.10 | |
| S1 | 968.40 | -0.278% |
| S2 | 966.30 | -0.494% |
| S3 | 965.30 | -0.597% |
KNFM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 18, 2024 | ₪79.00 | 8.18% |
| 2 | Sep 11, 2023 | Sep 11, 2023 | Sep 11, 2023 | ₪70.00 | 5.65% |
| 3 | Apr 06, 2021 | Apr 06, 2021 | Apr 06, 2021 | ₪50.00 | 5.57% |
| 4 | Dec 10, 2017 | Dec 10, 2017 | Dec 10, 2017 | ₪45.00 | 2.03% |
| 5 | Aug 27, 2017 | Aug 27, 2017 | Aug 27, 2017 | ₪155.00 | 5.66% |
FAQ
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