Central Garden & Pet Company Stock Forecast
Stronger technical forecast for Central Garden & Pet Company stock price after Tuesday trading.
(Updated on May 07, 2024)
The Central Garden & Pet Company stock price fell by -0.216% on the last day (Tuesday, 7th May 2024) from $41.64 to $41.55. During the last trading day the stock fluctuated 1.68% from a day low at $41.55 to a day high of $42.25. The price has fallen in 6 of the last 10 days and is down by -1.26% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -47 thousand shares and in total, 54 thousand shares were bought and sold for approximately $2.23 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.61% during the next 3 months and, with a 90% probability hold a price between $36.02 and $43.45 at the end of this 3-month period.
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CENT Signals & Forecast
The Central Garden & Pet Company 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 $41.53 and $41.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.81%. Further rise is indicated until a new top pivot has been found. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Central Garden & Pet Company stock
Central Garden & Pet Company finds support from accumulated volume at $41.43 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 $0.699 (1.68%) between high and low. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: $39.53 (-4.87%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (CENT) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Central Garden & Pet Company to open at $41.78, and during the day (based on 14 day Average True Range), to move between $40.61 and $42.49, which gives a possible trading interval of +/-$0.94 (+/-2.26%) up or down from last closing price. If Central Garden & Pet Company takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.43 (0.29%) than the resistance at $41.99 (1.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Central Garden & Pet Company will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.83. We will update the financials statements for Central Garden & Pet Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.99% in the first trading day after earnings release.
Is Central Garden & Pet Company stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.156 Buy Candidate Upgraded
Predicted Opening Price for Central Garden & Pet Company of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$41.78 ( 0.561%) | $41.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CENT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 42.48 | 2.24 % | |
R2 | 42.22 | 1.60 % | ||
R1 | 42.05 | 1.20 % | ||
Current price: | 41.55 | |||
Support | S1 | 41.52 | -0.0819 % | |
S2 | 41.35 | -0.479 % | ||
S3 | 41.08 | -1.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 42.35 | 1.93 % | |
R2 | 42.08 | 1.28 % | ||
R1 | 41.99 | 1.06 % | ||
Current price | 41.55 | |||
Support | S1 | 41.43 | -0.289% | |
S2 | 41.21 | -0.82% | ||
S3 | 40.95 | -1.44% |
CENT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2007 | Feb 06, 2007 | Feb 06, 2007 | $29.20 | 253.91% |
FAQ
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