Knight Transportation Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Knight Transportation Inc stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Knight Transportation Inc stock price fell by -2.82% on the last day (Thursday, 25th Apr 2024) from $48.51 to $47.14. During the last trading day the stock fluctuated 2.64% from a day low at $46.63 to a day high of $47.86. The price has fallen in 6 of the last 10 days and is down by -9.35% for this period. Volume has increased on the last day by 56 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, 3 million shares were bought and sold for approximately $156.79 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($47.51) are considered to be a "second chance" to get out. According to the fan-theory $43.34 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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KNX Signals & Forecast
There are few to no technical positive signals at the moment. The Knight Transportation Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $48.23 and $52.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -14.32%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Knight Transportation Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.23 between high and low, or 2.64%. For the last week, the stock has had daily average volatility of 2.19%.
Knight Transportation Inc is oversold on RSI14 (22). 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 (KNX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Knight Transportation Inc to open at $47.21, and during the day (based on 14 day Average True Range), to move between $45.74 and $48.54, which gives a possible trading interval of +/-$1.40 (+/-2.97%) up or down from last closing price. If Knight Transportation Inc takes out the full calculated possible swing range there will be an estimated 5.95% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $47.88, some $0.740 (1.57%) from the current price of $47.14, our system finds the risk reward not very attractive.
Is Knight Transportation Inc stock A Buy?
Knight Transportation Inc holds several negative signals and is within a falling trend, so we believe 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 Sell to a Strong Sell candidate.
Current score: -6.546 Strong Sell Candidate Downgraded
Predicted Opening Price for Knight Transportation Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $47.21 ( 0.148%) | $47.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KNX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.44 | 2.76 % | |
| R2 | 47.97 | 1.76 % | ||
| R1 | 47.68 | 1.15 % | ||
| Current price: | 47.14 | |||
| Support | S1 | 46.74 | -0.85 % | |
| S2 | 46.45 | -1.46 % | ||
| S3 | 45.98 | -2.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.08 | 10.48 % | |
| R2 | 48.53 | 2.95 % | ||
| R1 | 47.88 | 1.57 % | ||
| Current price | 47.14 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
KNX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Mar 07, 2024 | Mar 25, 2024 | $0.160 | 0.307% |
| 2 | Nov 13, 2023 | Dec 07, 2023 | Dec 22, 2023 | $0.140 | 0.238% |
| 3 | Jul 27, 2023 | Sep 07, 2023 | Sep 25, 2023 | $0.140 | 0.275% |
| 4 | Apr 28, 2023 | Jun 08, 2023 | Jun 27, 2023 | $0.140 | 0.252% |
| 5 | Feb 03, 2023 | Mar 02, 2023 | Mar 27, 2023 | $0.140 | 0.253% |
FAQ
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