The Cheesecake Factory Incorporated Stock Forecast
The Cheesecake Factory Incorporated stock price ended at $35.36 on Friday, after gaining 1.36%.
(Updated on Apr 26, 2024)
The The Cheesecake Factory Incorporated stock price gained 1.36% on the last trading day (Friday, 26th Apr 2024), rising from $34.88 to $35.36. During the last trading day the stock fluctuated 1.84% from a day low at $34.83 to a day high of $35.47. The price has risen in 7 of the last 10 days and is up by 5.7% over the past 2 weeks. Volume fell on the last day by -173 thousand shares and in total, 710 thousand shares were bought and sold for approximately $25.11 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect The Cheesecake Factory Incorporated stock with a 90% probability to be traded between $33.17 and $36.73 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
The The Cheesecake Factory Incorporated 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 $34.73 and $35.21. 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 23, 2024, and so far it has fallen -0.352%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Wednesday, April 03, 2024 and based on theory for this formation the price should fall by -4.76% to $33.67 within 19 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for The Cheesecake Factory Incorporated stock
The Cheesecake Factory Incorporated finds support from accumulated volume at $35.33 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 $0.640 between high and low, or 1.84%. For the last week, the stock has had daily average volatility of 1.93%.
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 Monday 29th
For the upcoming trading day on Monday, 29th we expect The Cheesecake Factory Incorporated to open at $35.22, and during the day (based on 14 day Average True Range), to move between $34.46 and $36.25, which gives a possible trading interval of +/-$0.89 (+/-2.52%) 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 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $35.33 (0.07%) than the resistance at $35.48 (0.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Cheesecake Factory Incorporated stock A Buy?
The Cheesecake Factory Incorporated holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.322 Sell Candidate Unchanged
Predicted Opening Price for The Cheesecake Factory Incorporated of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $35.22 ( 0.396%) | $35.36 |
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 | 35.86 | 1.41 % | |
| R2 | 35.61 | 0.723 % | ||
| R1 | 35.46 | 0.296 % | ||
| Current price: | 35.36 | |||
| Support | S1 | 34.97 | -1.09 % | |
| S2 | 34.82 | -1.51 % | ||
| S3 | 34.58 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.93 | 4.45 % | |
| R2 | 35.85 | 1.40 % | ||
| R1 | 35.48 | 0.354 % | ||
| Current price | 35.36 | |||
| Support | S1 | 35.33 | -0.0707% | |
| S2 | 35.22 | -0.382% | ||
| S3 | 34.23 | -3.18% |
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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