Knight Transportation Inc Forecast and Stock Analysis
Technical KNX stock analysis for March 15, 2019.
|Shorts||11.19% ( 2019-02-28 )|
Knight Transportation Inc fell by -2.39% in the last day from $34.77 to $33.94 The price has fallen in 6 of the last 10 days , but is still up by 0.77% over the past 2 weeks. Volume has increased in the last day by 1.49 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 3.56 million shares bought and sold for approximately $120.67 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the KNX stock was $33.94. This is 2.39% less than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 4.15% from a day low at $33.58 to a day high of $34.97.
30 day high of the KNX stock price was $35.30 and low was $31.75.
90 day high was $35.30 and low was $23.27.
52 week high for the Knight Transportation Inc - $50.35 and low - $23.27.
Knight Transportation Inc lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $33.29 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 34.49% during the next 3 months and, with 90% probability hold a price between $44.78 and $52.41 at the end of this period.
Knight Transportation Inc holds buy signals from both short- and long-term moving averages. In addition, 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 $33.74 and $33.00. A break down 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 sales signal was issued from a pivot top point on Thursday March 14, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 50 and the stock is currently not being overbought or oversold
Support & Resistance
Knight Transportation Inc finds support from accumulated volume at $32.64.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.40 (4.15%) between high and low. For the last week, the stock has had a daily average volatility of 3.35%.
Our recommended stoploss: $32.54 (-4.12%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.