The Cheesecake Factory Incorporated Stock Forecast
Evaluation of The Cheesecake Factory Incorporated stock downgraded after the last trading session.
(Updated on May 07, 2024)
The The Cheesecake Factory Incorporated stock price fell by -1.76% on the last day (Tuesday, 7th May 2024) from $34.63 to $34.02. During the last trading day the stock fluctuated 2.72% from a day low at $33.88 to a day high of $34.80. The price has fallen in 7 of the last 10 days and is down by -4.11% 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 -200 thousand shares and in total, 1 million shares were bought and sold for approximately $36.62 million.
The stock lies in the middle of a 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 -3.56% during the next 3 months and, with a 90% probability hold a price between $31.91 and $34.01 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CAKE Signals & Forecast
There are mixed signals in the stock today. 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 $34.13 and $34.80. A break-up above any of these levels will issue buy signals. 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 buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 1.64%. 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).
A buy signal from a double bottom formation was found on Thursday, May 02, 2024 and based on theory for this formation the price should go up by 10.14% to $37.47 within 14 trading days since signal was issued (Wednesday, May 08, 2024).
Support, Risk & Stop-loss for The Cheesecake Factory Incorporated stock
The Cheesecake Factory Incorporated finds support from accumulated volume at $33.84 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 $0.92 between high and low, or 2.72%. For the last week the stock has had daily average volatility of 2.92%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect The Cheesecake Factory Incorporated to open at $34.23, and during the day (based on 14 day Average True Range), to move between $33.08 and $34.96, which gives a possible trading interval of +/-$0.94 (+/-2.75%) 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 5.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.84 (0.53%) than the resistance at $34.23 (0.62%), 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 AMC 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 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.064 Sell Candidate Downgraded
Predicted Opening Price for The Cheesecake Factory Incorporated of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $34.23 ( 0.627%) | $34.02 |
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 | 35.15 | 3.33 % | |
| R2 | 34.80 | 2.30 % | ||
| R1 | 34.58 | 1.66 % | ||
| Current price: | 34.02 | |||
| Support | S1 | 33.88 | -0.406 % | |
| S2 | 33.66 | -1.04 % | ||
| S3 | 33.31 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.85 | 5.38 % | |
| R2 | 35.33 | 3.85 % | ||
| R1 | 34.23 | 0.617 % | ||
| Current price | 34.02 | |||
| Support | S1 | 33.84 | -0.529% | |
| S2 | 33.67 | -1.03% | ||
| S3 | 33.45 | -1.68% |
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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