Key Tronic Corporation Stock Forecast
Key Tronic Corporation stock price fell more than -6.13% Friday closing at $4.29
(Updated on Apr 26, 2024)
The Key Tronic Corporation stock price fell by -6.13% on the last day (Friday, 26th Apr 2024) from $4.57 to $4.29. During the last trading day the stock fluctuated 2.61% from a day low at $4.23 to a day high of $4.34. The price has been going up and down for this period, and there has been a -5.3% loss for the last 2 weeks. Volume has increased on the last day by 58 thousand 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, 63 thousand shares were bought and sold for approximately $270.82 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 $4.23 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Key Tronic Corporation stock with a 90% probability to be traded between $4.22 and $4.93 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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KTCC Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Key Tronic Corporation 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 $4.50 and $4.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -13.51%. Further fall is indicated until a new bottom pivot has been found. Key Tronic Corporation 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".
Support, Risk & Stop-loss for Key Tronic Corporation stock
Key Tronic Corporation finds support from accumulated volume at $4.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.110 between high and low, or 2.61%. For the last week the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KTCC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Key Tronic Corporation to open at $4.29, and during the day (based on 14 day Average True Range), to move between $4.15 and $4.43, which gives a possible trading interval of +/-$0.145 (+/-3.37%) up or down from last closing price. If Key Tronic Corporation takes out the full calculated possible swing range there will be an estimated 6.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.26 (0.70%) than the resistance at $4.44 (3.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Key Tronic Corporation stock A Buy?
Key Tronic Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.550 Sell Candidate Downgraded
Predicted Opening Price for Key Tronic Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $4.29 ( 0.0730%) | $4.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KTCC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.40 | 2.50 % | |
| R2 | 4.36 | 1.52 % | ||
| R1 | 4.33 | 0.91 % | ||
| Current price: | 4.29 | |||
| Support | S1 | 4.24 | -1.06 % | |
| S2 | 4.22 | -1.66 % | ||
| S3 | 4.18 | -2.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.70 | 9.56 % | |
| R2 | 4.60 | 7.23 % | ||
| R1 | 4.44 | 3.50 % | ||
| Current price | 4.29 | |||
| Support | S1 | 4.26 | -0.699% | |
| S2 | 4.25 | -0.91% | ||
| S3 | 0 | . |
FAQ
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