Kingsway Financial Services Inc Stock Forecast
Kingsway Financial Services Inc stock downgraded from Buy Candidate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Kingsway Financial Services Inc stock price fell by -1.14% on the last day (Wednesday, 24th Apr 2024) from $8.80 to $8.70. During the last trading day the stock fluctuated 5.29% from a day low at $8.36 to a day high of $8.81. The price has risen in 7 of the last 10 days and is up by 3.94% over the past 2 weeks. Volume has increased on the last day by 24 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 35 thousand shares were bought and sold for approximately $301.85 thousand.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $8.79 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.74% during the next 3 months and, with a 90% probability hold a price between $7.66 and $8.38 at the end of this 3-month period. 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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KFS Signals & Forecast
The Kingsway Financial Services Inc 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 $8.62 and $8.51. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, April 23, 2024, and so far it has fallen -1.14%. Further fall is indicated until a new bottom pivot has been found. Kingsway Financial Services Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Kingsway Financial Services Inc stock
Kingsway Financial Services Inc finds support from accumulated volume at $8.43 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 $0.442 (5.29%) between high and low. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KFS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Kingsway Financial Services Inc to open at $8.62, and during the day (based on 14 day Average True Range), to move between $8.43 and $8.97, which gives a possible trading interval of +/-$0.269 (+/-3.09%) up or down from last closing price. If Kingsway Financial Services Inc takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.77 (0.80%) than the support at $8.43 (3.10%), 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 Kingsway Financial Services Inc stock A Buy?
Kingsway Financial Services Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.529 Sell Candidate Downgraded
Predicted Opening Price for Kingsway Financial Services Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $8.62 ( 0.89%) | $8.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.06 | 4.19 % | |
| R2 | 8.90 | 2.25 % | ||
| R1 | 8.79 | 1.05 % | ||
| Current price: | 8.70 | |||
| Support | S1 | 8.45 | -2.83 % | |
| S2 | 8.35 | -4.03 % | ||
| S3 | 8.18 | -5.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.82 | 1.38 % | |
| R2 | 8.80 | 1.15 % | ||
| R1 | 8.77 | 0.80 % | ||
| Current price | 8.70 | |||
| Support | S1 | 8.43 | -3.10% | |
| S2 | 8.42 | -3.22% | ||
| S3 | 8.37 | -3.79% |
KFS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2009 | Jun 11, 2009 | Jun 30, 2009 | $0.0720 | 0.627% |
| 2 | Feb 20, 2009 | Mar 12, 2009 | Mar 31, 2009 | $0.0640 | 0.90% |
| 3 | Nov 05, 2008 | Dec 11, 2008 | Dec 31, 2008 | $0.240 | 1.10% |
| 4 | Aug 07, 2008 | Sep 11, 2008 | Sep 30, 2008 | $0.280 | 1.00% |
| 5 | May 07, 2008 | Jun 12, 2008 | Jun 30, 2008 | $0.296 | 0.85% |
FAQ
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