Kenvue Inc. Stock Forecast
Kenvue Inc. stock price ended at $20.54 on Thursday, after gaining 0.440%.
(Updated on May 09, 2024)
The Kenvue Inc. stock price gained 0.440% on the last trading day (Thursday, 9th May 2024), rising from $20.45 to $20.54. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.20% from a day low at $20.37 to a day high of $20.61. The price has risen in 7 of the last 10 days and is up by 7.99% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 13 million shares were bought and sold for approximately $270.04 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 Kenvue Inc. stock with a 90% probability to be traded between $19.05 and $21.80 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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KVUE Signals & Forecast
Mostly positive signals in the chart today. The Kenvue Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $19.62 and $19.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 9.14%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Kenvue Inc. stock
Kenvue Inc. finds support from accumulated volume at $19.58 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 $0.245 (1.20%) between high and low. For the last week, the stock has had daily average volatility of 2.49%.
Our recommended stop-loss: $19.88 (-3.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (KVUE) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Kenvue Inc. to open at $20.51, and during the day (based on 14 day Average True Range), to move between $20.11 and $20.97, which gives a possible trading interval of +/-$0.431 (+/-2.10%) up or down from last closing price. If Kenvue Inc. takes out the full calculated possible swing range there will be an estimated 4.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.71 (0.83%) than the support at $19.58 (4.67%), 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 Kenvue 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 Kenvue Inc. stock to perform well in the short-term period.
Current score: 1.033 Buy Candidate Unchanged
Predicted Opening Price for Kenvue Inc. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $20.51 ( 0.170%) | $20.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KVUE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.75 | 1.02 % | |
| R2 | 20.66 | 0.567 % | ||
| R1 | 20.60 | 0.285 % | ||
| Current price: | 20.54 | |||
| Support | S1 | 20.41 | -0.626 % | |
| S2 | 20.35 | -0.91 % | ||
| S3 | 20.26 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.46 | 4.48 % | |
| R2 | 20.93 | 1.90 % | ||
| R1 | 20.71 | 0.83 % | ||
| Current price | 20.54 | |||
| Support | S1 | 19.58 | -4.67% | |
| S2 | 19.13 | -6.86% | ||
| S3 | 18.82 | -8.37% |
KVUE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 07, 2024 | May 22, 2024 | $0.200 | 0.97% |
| 2 | Feb 13, 2024 | Feb 13, 2024 | Feb 28, 2024 | $0.200 | 1.04% |
| 3 | Oct 26, 2023 | Nov 07, 2023 | Nov 22, 2023 | $0.200 | 1.00% |
| 4 | Jul 20, 2023 | Aug 25, 2023 | Sep 07, 2023 | $0.200 | 0.95% |
FAQ
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