Karat Packaging Inc. Stock Forecast

Karat Packaging Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)

KRT Signals & Forecast

There are mixed signals in the stock today. The Karat Packaging Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $27.75. On a fall, the stock will find some support from the short-term average at $27.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -6.05%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Karat Packaging 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. The stock had a Golden Star Signal on Thursday, November 30, 2023 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.

Support, Risk & Stop-loss for Karat Packaging Inc. stock

Karat Packaging Inc. finds support from accumulated volume at $26.80 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 $0.720 between high and low, or 2.67%. For the last week, the stock has had daily average volatility of 2.10%.

Our recommended stop-loss: $25.87 (-5.29%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (KRT) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Karat Packaging Inc. to open at $27.34, and during the day (based on 14 day Average True Range), to move between $26.49 and $28.13, which gives a possible trading interval of +/-$0.82 (+/-3.01%) up or down from last closing price. If Karat Packaging Inc. takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $26.80 (1.87%) than the resistance at $28.31 (3.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Karat Packaging Inc. 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 Karat Packaging Inc. 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: 1.098 Buy Candidate Upgraded

Predicted Opening Price for Karat Packaging Inc. of Thursday, May 2, 2024

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