Kenon Holdings Ltd Stock Forecast

Kenon Holdings Ltd stock price ended at $21.57 on Wednesday, after losing 0.507%.
(Updated on Apr 24, 2024)

KEN Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 9.72%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kenon Holdings Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $23.77. On a fall, the stock will find some support from the short-term average at $21.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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.

Support, Risk & Stop-loss for Kenon Holdings Ltd stock

Kenon Holdings Ltd finds support from accumulated volume at $21.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.390 between high and low, or 1.82%. For the last week the stock has had daily average volatility of 1.82%.

Kenon Holdings Ltd is oversold on RSI14 (24). 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 (KEN) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Kenon Holdings Ltd to open at $21.62, and during the day (based on 14 day Average True Range), to move between $20.71 and $22.43, which gives a possible trading interval of +/-$0.86 (+/-3.98%) up or down from last closing price. If Kenon Holdings Ltd takes out the full calculated possible swing range there will be an estimated 7.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $21.35 (1.02%) than the resistance at $21.87 (1.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Kenon Holdings Ltd stock A Buy?

Kenon Holdings Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.692 Sell Candidate Unchanged

Predicted Opening Price for Kenon Holdings Ltd of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.