Kaixin Auto Holdings Stock Forecast
Is Kaixin Auto Holdings stock still a buy after falling -6.92% on Friday?
(Updated on Apr 19, 2024)
The Kaixin Auto Holdings stock price fell by -6.92% on the last day (Friday, 19th Apr 2024) from $0.130 to $0.121. During the last trading day the stock fluctuated 7.78% from a day low at $0.117 to a day high of $0.126. The price has fallen in 7 of the last 10 days and is down by -31.83% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -531 thousand shares and in total, 692 thousand shares were bought and sold for approximately $83.68 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.110, a level that may pose a second chance to hit a runner. According to fan-theory $0.288 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KXIN Signals & Forecast
There are few to no technical positive signals at the moment. The Kaixin Auto Holdings 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 $0.144 and $0.190. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 12, 2024, and so far it has fallen -63.33%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Kaixin Auto Holdings stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0091 between high and low, or 7.78%. For the last week the stock has had daily average volatility of 16.61%.
Kaixin Auto Holdings is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KXIN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Kaixin Auto Holdings to open at $0.121, and during the day (based on 14 day Average True Range), to move between $0.0993 and $0.143, which gives a possible trading interval of +/-$0.0217 (+/-17.95%) up or down from last closing price. If Kaixin Auto Holdings takes out the full calculated possible swing range there will be an estimated 35.91% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.123, some $0.0015 (1.24%) from the current price of $0.121, our system finds the risk reward not very attractive.
Is Kaixin Auto Holdings stock A Buy?
Kaixin Auto Holdings holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.
Current score: -6.188 Strong Sell Candidate Downgraded
Predicted Opening Price for Kaixin Auto Holdings of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.121 ( 0.303%) | $0.121 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KXIN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.130 | 7.82 % | |
| R2 | 0.127 | 4.95 % | ||
| R1 | 0.125 | 3.18 % | ||
| Current price: | 0.121 | |||
| Support | S1 | 0.118 | -2.57 % | |
| S2 | 0.116 | -4.34 % | ||
| S3 | 0.112 | -7.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.130 | 7.44 % | |
| R2 | 0.126 | 4.13 % | ||
| R1 | 0.123 | 1.24 % | ||
| Current price | 0.121 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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