Scotts Miracle-Gro Company (The) Stock Forecast
Green day on Monday for Scotts Miracle-Gro Company (The) stock after gaining 1.26%
(Updated on May 06, 2024)
The Scotts Miracle-Gro Company (The) stock price gained 1.26% on the last trading day (Monday, 6th May 2024), rising from $70.54 to $71.43. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.88% from a day low at $70.58 to a day high of $72.61. The price has risen in 7 of the last 10 days and is up by 5.21% over the past 2 weeks. Volume fell on the last day by -336 thousand shares and in total, 588 thousand shares were bought and sold for approximately $41.97 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 20.87% during the next 3 months and, with a 90% probability hold a price between $83.25 and $97.16 at the end of this 3-month period.
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SMG Signals & Forecast
The Scotts Miracle-Gro Company (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $69.08 and $70.62. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 09, 2024, and so far it has fallen -6.09%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Scotts Miracle-Gro Company (The) stock
Scotts Miracle-Gro Company (The) finds support from accumulated volume at $68.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $2.03 between high and low, or 2.88%. For the last week, the stock has had daily average volatility of 5.12%.
Our recommended stop-loss: $69.14 (-3.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (SMG) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Scotts Miracle-Gro Company (The) to open at $71.54, and during the day (based on 14 day Average True Range), to move between $68.91 and $73.95, which gives a possible trading interval of +/-$2.52 (+/-3.53%) up or down from last closing price. If Scotts Miracle-Gro Company (The) takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $72.57 (1.60%) than the support at $68.54 (4.05%), 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 Scotts Miracle-Gro Company (The) 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 Scotts Miracle-Gro Company (The) stock to perform well in the short-term.
Current score: 1.264 Buy Candidate Unchanged
Predicted Opening Price for Scotts Miracle-Gro Company (The) of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $71.54 ( 0.154%) | $71.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.57 | 3.00 % | |
| R2 | 72.79 | 1.91 % | ||
| R1 | 72.32 | 1.24 % | ||
| Current price: | 71.43 | |||
| Support | S1 | 70.76 | -0.93 % | |
| S2 | 70.29 | -1.60 % | ||
| S3 | 69.51 | -2.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.06 | 3.68 % | |
| R2 | 72.83 | 1.96 % | ||
| R1 | 72.57 | 1.60 % | ||
| Current price | 71.43 | |||
| Support | S1 | 68.54 | -4.05% | |
| S2 | 68.19 | -4.54% | ||
| S3 | 57.16 | -19.98% |
SMG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | Jun 07, 2024 | $0.660 | 0.92% |
| 2 | Jan 22, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.660 | 0.97% |
| 3 | Oct 31, 2023 | Nov 24, 2023 | Dec 08, 2023 | $0.660 | 1.09% |
| 4 | Aug 01, 2023 | Aug 24, 2023 | Sep 08, 2023 | $0.660 | 1.24% |
| 5 | Apr 24, 2023 | May 25, 2023 | Jun 09, 2023 | $0.660 | 1.07% |
FAQ
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