Central Garden & Pet Company Stock Forecast
Red day on Wednesday for Central Garden & Pet Company stock after losing 0.333%
(Updated on Apr 24, 2024)
The Central Garden & Pet Company stock price fell by -0.333% on the last day (Wednesday, 24th Apr 2024) from $42.08 to $41.94. During the last trading day the stock fluctuated 1.33% from a day low at $41.64 to a day high of $42.19. The price has fallen in 6 of the last 10 days but is still up by 5.51% over the past 2 weeks. 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, 101 thousand shares were bought and sold for approximately $4.25 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 -13.80% during the next 3 months and, with a 90% probability hold a price between $33.46 and $37.86 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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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, 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 $40.31 and $41.39. 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 6.80%. 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 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 $0.555 between high and low, or 1.33%. For the last week, the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: $40.32 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (CENT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Central Garden & Pet Company to open at $41.92, and during the day (based on 14 day Average True Range), to move between $40.96 and $42.92, which gives a possible trading interval of +/-$0.98 (+/-2.33%) 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 4.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.99 (0.12%) than the support at $41.43 (1.22%), 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.
Earnings coming up
Central Garden & Pet Company will release earnings BMO on Wednesday, May 01, 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?
Central Garden & Pet Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.507 Hold/Accumulate Unchanged
Predicted Opening Price for Central Garden & Pet Company of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $41.92 ( 0.0437%) | $41.94 |
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 | 1.28 % | |
| R2 | 42.26 | 0.774 % | ||
| R1 | 42.13 | 0.462 % | ||
| Current price: | 41.94 | |||
| Support | S1 | 41.71 | -0.549 % | |
| S2 | 41.58 | -0.86 % | ||
| S3 | 41.37 | -1.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.35 | 0.98 % | |
| R2 | 42.08 | 0.334 % | ||
| R1 | 41.99 | 0.119 % | ||
| Current price | 41.94 | |||
| Support | S1 | 41.43 | -1.22% | |
| S2 | 41.21 | -1.74% | ||
| S3 | 41.10 | -2.00% |
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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