Kontoor Brands Inc. Stock Forecast
Green day on Thursday for Kontoor Brands Inc. stock after gaining 1.50%
(Updated on Mar 28, 2024)
The Kontoor Brands Inc. stock price gained 1.50% on the last trading day (Thursday, 28th Mar 2024), rising from $59.36 to $60.25. During the last trading day the stock fluctuated 2.02% from a day low at $59.30 to a day high of $60.50. The price has risen in 6 of the last 10 days and is up by 1.43% 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, 105 thousand more shares were traded than the day before. In total, 602 thousand shares were bought and sold for approximately $36.26 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Kontoor Brands Inc. stock with a 90% probability to be traded between $58.04 and $64.57 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KTB Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 5.07%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kontoor Brands 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 $60.58. On a fall, the stock will find some support from the short-term average at $58.75. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kontoor Brands Inc. stock
Kontoor Brands Inc. finds support from accumulated volume at $59.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.20 (2.02%) between high and low. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: $57.55 (-4.48%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (KTB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Kontoor Brands Inc. to open at $60.02, and during the day (based on 14 day Average True Range), to move between $58.73 and $61.77, which gives a possible trading interval of +/-$1.52 (+/-2.52%) up or down from last closing price. If Kontoor Brands Inc. takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.67 (0.70%) than the support at $59.11 (1.89%), 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 Kontoor Brands 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 Kontoor Brands Inc. stock to perform well in the short-term period.
Current score: 1.771 Buy Candidate Unchanged
Predicted Opening Price for Kontoor Brands Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$60.02 ( 0.387%) | $60.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KTB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.22 | 1.60 % | |
R2 | 60.76 | 0.84 % | ||
R1 | 60.48 | 0.374 % | ||
Current price: | 60.25 | |||
Support | S1 | 59.56 | -1.15 % | |
S2 | 59.28 | -1.62 % | ||
S3 | 58.82 | -2.38 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.45 | 5.31 % | |
R2 | 61.35 | 1.83 % | ||
R1 | 60.67 | 0.697 % | ||
Current price | 60.25 | |||
Support | S1 | 59.11 | -1.89% | |
S2 | 59.01 | -2.06% | ||
S3 | 57.77 | -4.12% |
KTB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 16, 2024 | Mar 07, 2024 | Mar 18, 2024 | $0.500 | 0.87% |
2 | Oct 27, 2023 | Dec 07, 2023 | Dec 18, 2023 | $0.500 | 0.84% |
3 | Jul 21, 2023 | Sep 07, 2023 | Sep 18, 2023 | $0.480 | 1.12% |
4 | Apr 21, 2023 | Jun 08, 2023 | Sep 18, 2023 | $0.480 | 1.12% |
5 | Feb 22, 2023 | Mar 09, 2023 | Mar 20, 2023 | $0.480 | 0.97% |
FAQ
Click here for our free guide on how to buy Kontoor Brands Inc. Stock.