Freshpet Stock Forecast
Weaker technical forecast for Freshpet as stock downgraded to Buy Candidate.
(Updated on Mar 28, 2024)
The Freshpet stock price gained 0.130% on the last trading day (Thursday, 28th Mar 2024), rising from $115.71 to $115.86. During the last trading day the stock fluctuated 1.44% from a day low at $115.11 to a day high of $116.77. The price has risen in 7 of the last 10 days and is up by 5.99% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 135 thousand more shares were traded than the day before. In total, 426 thousand shares were bought and sold for approximately $49.34 million.
The stock 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 41.19% during the next 3 months and, with a 90% probability hold a price between $155.32 and $176.47 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FRPT Signals & Forecast
The Freshpet 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 $114.45 and $104.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 6.87%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Freshpet stock
Freshpet finds support from accumulated volume at $113.03 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 $1.66 (1.44%) between high and low. For the last week, the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: $111.38 (-3.87%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (FRPT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Freshpet to open at $115.91, and during the day (based on 14 day Average True Range), to move between $112.74 and $118.98, which gives a possible trading interval of +/-$3.12 (+/-2.69%) up or down from last closing price. If Freshpet takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $113.03, some $2.83 (2.44%) from the current price of $115.86, our system finds the risk reward attractive.
Is Freshpet stock A Buy?
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 Freshpet stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.767 Buy Candidate Downgraded
Predicted Opening Price for Freshpet of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$115.91 ( 0.0446%) | $115.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRPT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 117.57 | 1.47 % | |
R2 | 116.93 | 0.93 % | ||
R1 | 116.54 | 0.590 % | ||
Current price: | 115.86 | |||
Support | S1 | 115.28 | -0.501 % | |
S2 | 114.89 | -0.84 % | ||
S3 | 114.26 | -1.38 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 115.86 | |||
Support | S1 | 113.03 | -2.44% | |
S2 | 110.12 | -4.95% | ||
S3 | 108.28 | -6.54% |
FAQ
Click here for our free guide on how to buy Freshpet Stock.