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Strong Buy Candidate
Buy Score Rank #105 out of #5176
Fri 18'th Aug 2017

PERIOD COVERED
2017-05-19 - 2017-08-18
CHANGE
0.83%
PRICE
$85.10
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Sell

PIVOT
Buy

MACD
Buy

BOLLINGER
Buy
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Kadant Inc Stock Analysis

Technical stock analysis for Fri 18'th Aug 2017

Buy candidate since 2017-08-07 Loss -0.70%

Kadant Inc gained 0.83% in the last trading day, rising from $84.40 to $85.10 The price has been going up and down for this period, and there has been a -1.85% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 25 659 more shares were traded than the day before. In total, 74 961 shares bought and sold for approximately $6.38 million.

Trend

Kadant Inc lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.76% during the next 3 months and, with 90% probability hold a price between $90.81 and $103.88 at the end of this period.

Signals

Only positive signals in the chart today. Kadant Inc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $85.22. On a fall, the stock will find some support from the long-term average at approximately $80.31. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Thursday August 17, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

A buy signal from a double bottom formation was found on Thursday August 17, 2017 and based on theory for this formation the price should go up by 0.55% to $85.35 within 10 trading days since signal was issued (Thursday August 31, 2017).

Relative Strength Index (RSI)

RSI14 is 64 and the stock is currently not being overbought or oversold

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $79.35 and $77.15. On the upside the stock meets some resistance just above today's level from accumulated volume at $85.30, $85.40 and $88.30.

There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kadant Inc finds support just below today's level at $79.35. If this is broken, then the next support from accumulated volume will be at $77.15 and $76.30. The stock is about to test the resistance from accumulated volume at $85.30 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Support: $79.35 Price: $85.1 Resistance: $85.30
S: $79.35 Price: $85.1 R: $85.30

Risk

This stock may move much during a 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 $1.95 between high and low, or 2.33%. For the last week, the stock has had a daily average volatility of 2.27%.

Our recommended stoploss: $79.99 (-6.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Overall risk:

           

Evaluation

Kadant Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.

Strong Buy Candidate

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