Keane Group Stock Forecast
Keane Group stock price down 2.01% on Friday
(Updated on Nov 06, 2020)
The Keane Group stock price fell by -2.01% on the last day (Friday, 6th Nov 2020) from $1.99 to $1.95. During the last trading day the stock fluctuated 5.99% from a day low at $1.92 to a day high of $2.04. The price has risen in 6 of the last 10 days but is still down by -4.88% 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 -957 thousand shares and in total, 1 million shares were bought and sold for approximately $2.09 million.
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 $1.79, a level that may pose a second chance to hit a runner. According to fan-theory $2.47 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FRAC Signals & Forecast
The Keane Group 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 $1.94 and $1.92. A breakdown below any of these levels will issue sell signals. 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 Thursday, October 08, 2020, and so far it has fallen -9.72%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Keane Group stock
Keane Group finds support from accumulated volume at $1.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.115 between high and low, or 5.99%. For the last week, the stock has had daily average volatility of 8.51%.
Our recommended stop-loss: $1.87 (-4.15%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (FRAC) For The Upcoming Trading Day Of Monday 9th
For the upcoming trading day on Monday, 9th we expect Keane Group to open at $1.97, and during the day (based on 14 day Average True Range), to move between $1.78 and $2.12, which gives a possible trading interval of +/-$0.167 (+/-8.55%) up or down from last closing price. If Keane Group takes out the full calculated possible swing range there will be an estimated 17.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.96 (0.51%) than the support at $1.87 (4.10%), 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 Keane Group stock A Buy?
Keane Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.708 Hold/Accumulate Unchanged
Predicted Opening Price for Keane Group of Monday, November 9, 2020
Fair opening price November 9, 2020 | Current price |
---|---|
$1.97 ( 0.94%) | $1.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRAC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.08 | 6.84 % | |
R2 | 2.04 | 4.58 % | ||
R1 | 2.01 | 3.19 % | ||
Current price: | 1.95 | |||
Support | S1 | 1.92 | -1.31 % | |
S2 | 1.90 | -2.70 % | ||
S3 | 1.85 | -4.96 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.08 | 6.67 % | |
R2 | 1.99 | 2.05 % | ||
R1 | 1.96 | 0.513 % | ||
Current price | 1.95 | |||
Support | S1 | 1.87 | -4.10% | |
S2 | 1.85 | -5.13% | ||
S3 | 1.71 | -12.31% |
FAQ
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