Central Garden & Pet Company Stock Forecast

Buy or Hold candidate since Nov 21, 2024 Gain 4.28%

The Central Garden & Pet Company stock price fell by -1.45% on the last day (Thursday, 12th Dec 2024) from $40.59 to $40.00. During the last trading day the stock fluctuated 2.42% from a day low at $39.68 to a day high of $40.64. The price has fallen in 6 of the last 10 days and is down by -0.4% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 88 thousand shares were bought and sold for approximately $3.53 million.

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 11.85% during the next 3 months and, with a 90% probability hold a price between $40.01 and $46.04 at the end of this 3-month period.

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CENT Signals & Forecast

The Central Garden & Pet Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $40.64. On a fall, the stock will find some support from the long-term average at approximately $37.70. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, December 10, 2024, and so far it has fallen -2.49%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Central Garden & Pet Company stock

Central Garden & Pet Company finds support from accumulated volume at $39.83 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 $0.96 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 2.58%.

Our recommended stop-loss: $38.55 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (CENT) For The Upcoming Trading Day Of Friday 13th

For the upcoming trading day on Friday, 13th we expect Central Garden & Pet Company to open at $40.11, and during the day (based on 14 day Average True Range), to move between $38.90 and $41.10, which gives a possible trading interval of +/-$1.10 (+/-2.75%) 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 5.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $40.16 (0.40%) than the support at $39.83 (0.43%), 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 Central Garden & Pet Company 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 Central Garden & Pet Company 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: 1.992 Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 13, 2024 - $40.11 ( 0.267%).