Kontoor Brands Inc. Stock Forecast
Kontoor Brands Inc. stock price ended at $69.00 on Thursday, after gaining 1.53%.
(Updated on May 16, 2024)
The Kontoor Brands Inc. stock price gained 1.53% on the last trading day (Thursday, 16th May 2024), rising from $67.96 to $69.00. During the last trading day the stock fluctuated 2.23% from a day low at $67.86 to a day high of $69.37. The price has risen in 6 of the last 10 days and is up by 2.42% 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, 53 thousand more shares were traded than the day before. In total, 444 thousand shares were bought and sold for approximately $30.65 million.
The stock lies in the upper part of a wide and weak rising 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 $69.40 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.14% during the next 3 months and, with a 90% probability hold a price between $60.75 and $75.05 at the end of this 3-month period.
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KTB Signals & Forecast
The Kontoor Brands 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 $68.43 and $61.01. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -0.332%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Kontoor Brands Inc. stock
Kontoor Brands Inc. finds support from accumulated volume at $67.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.52 between high and low, or 2.23%. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: $66.41 (-3.76%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (KTB) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Kontoor Brands Inc. to open at $68.74, and during the day (based on 14 day Average True Range), to move between $67.12 and $70.88, which gives a possible trading interval of +/-$1.88 (+/-2.72%) up or down from last closing price. If Kontoor Brands Inc. takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $69.23 (0.33%) than the support at $67.37 (2.36%), 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, 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 Kontoor Brands Inc. stock to perform well in the short-term.
Current score: 3.595 Buy Candidate Unchanged
Predicted Opening Price for Kontoor Brands Inc. of Friday, May 17, 2024
Fair opening price May 17, 2024 | Current price |
---|---|
$68.74 ( 0.374%) | $69.00 |
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 | 70.26 | 1.82 % | |
R2 | 69.68 | 0.98 % | ||
R1 | 69.32 | 0.464 % | ||
Current price: | 69.00 | |||
Support | S1 | 68.16 | -1.21 % | |
S2 | 67.81 | -1.73 % | ||
S3 | 67.23 | -2.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 69.23 | 0.333 % | ||
Current price | 69.00 | |||
Support | S1 | 67.37 | -2.36% | |
S2 | 63.45 | -8.04% | ||
S3 | 57.77 | -16.28% |
KTB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 19, 2024 | Jun 10, 2024 | Jun 20, 2024 | $0.500 | 0.724% |
2 | Feb 16, 2024 | Mar 07, 2024 | Mar 18, 2024 | $0.500 | 0.87% |
3 | Oct 27, 2023 | Dec 07, 2023 | Dec 18, 2023 | $0.500 | 0.84% |
4 | Jul 21, 2023 | Sep 07, 2023 | Sep 18, 2023 | $0.480 | 1.12% |
5 | Apr 21, 2023 | Jun 08, 2023 | Sep 18, 2023 | $0.480 | 1.12% |
FAQ
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