The Cheesecake Factory Incorporated Stock Forecast
The Cheesecake Factory Incorporated stock price ended at $33.47 on Thursday, after losing 1.03%.
(Updated on May 02, 2024)
The The Cheesecake Factory Incorporated stock price fell by -1.03% on the last day (Thursday, 2nd May 2024) from $33.82 to $33.47. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.84% from a day low at $33.44 to a day high of $34.39. The price has fallen in 6 of the last 10 days and is down by -1.01% 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 -154 thousand shares and in total, 508 thousand shares were bought and sold for approximately $17.00 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $33.28 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect The Cheesecake Factory Incorporated stock with a 90% probability to be traded between $32.62 and $36.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CAKE Signals & Forecast
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. The The Cheesecake Factory Incorporated 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 $34.59 and $34.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -5.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Wednesday, April 03, 2024 with a target of $33.67. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for The Cheesecake Factory Incorporated stock
The Cheesecake Factory Incorporated finds support from accumulated volume at $33.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.95 between high and low, or 2.84%. For the last week the stock has had daily average volatility of 2.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CAKE) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect The Cheesecake Factory Incorporated to open at $33.77, and during the day (based on 14 day Average True Range), to move between $32.58 and $34.36, which gives a possible trading interval of +/-$0.89 (+/-2.65%) up or down from last closing price. If The Cheesecake Factory Incorporated takes out the full calculated possible swing range there will be an estimated 5.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.45 (0.06%) than the resistance at $34.23 (2.27%), 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
The Cheesecake Factory Incorporated will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.630. We will update the financials statements for The Cheesecake Factory Incorporated, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.21% in the first trading day after earnings release.
Is The Cheesecake Factory Incorporated stock A Buy?
The Cheesecake Factory Incorporated holds several negative signals and is within a wide and 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.
Current score: -2.630 Sell Candidate Unchanged
Predicted Opening Price for The Cheesecake Factory Incorporated of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $33.77 ( 0.89%) | $33.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAKE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.72 | 3.72 % | |
| R2 | 34.35 | 2.64 % | ||
| R1 | 34.13 | 1.97 % | ||
| Current price: | 33.47 | |||
| Support | S1 | 33.40 | -0.198 % | |
| S2 | 33.18 | -0.87 % | ||
| S3 | 32.82 | -1.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.85 | 7.11 % | |
| R2 | 35.33 | 5.56 % | ||
| R1 | 34.23 | 2.27 % | ||
| Current price | 33.47 | |||
| Support | S1 | 33.45 | -0.0598% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CAKE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 05, 2024 | Mar 19, 2024 | $0.270 | 0.747% |
| 2 | Oct 26, 2023 | Nov 14, 2023 | Nov 28, 2023 | $0.270 | 0.84% |
| 3 | Jul 27, 2023 | Aug 15, 2023 | Aug 29, 2023 | $0.270 | 0.83% |
| 4 | May 10, 2023 | May 23, 2023 | Jun 06, 2023 | $0.270 | 0.82% |
| 5 | Feb 16, 2023 | Mar 07, 2023 | Mar 21, 2023 | $0.270 | 0.783% |
FAQ
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