Traeger, Inc. Stock Forecast
Traeger, Inc. stock price up 2.37% on Thursday
(Updated on May 02, 2024)
The Traeger, Inc. stock price gained 2.37% on the last trading day (Thursday, 2nd May 2024), rising from $2.11 to $2.16. During the last trading day the stock fluctuated 3.35% from a day low at $2.09 to a day high of $2.16. The price has risen in 5 of the last 10 days and is up by 3.35% over the past 2 weeks. Volume fell on the last day by -34 thousand shares and in total, 118 thousand shares were bought and sold for approximately $254.47 thousand. 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 at the lower part of a very 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 $2.06 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Traeger, Inc. stock with a 90% probability to be traded between $2.10 and $2.66 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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COOK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 4.35%. 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. The Traeger, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.29. On a fall, the stock will find some support from the short-term average at $2.12. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Traeger, Inc. stock
Traeger, Inc. finds support from accumulated volume at $2.11 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0700 between high and low, or 3.35%. For the last week the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COOK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Traeger, Inc. to open at $2.14, and during the day (based on 14 day Average True Range), to move between $2.05 and $2.27, which gives a possible trading interval of +/-$0.112 (+/-5.17%) up or down from last closing price. If Traeger, Inc. takes out the full calculated possible swing range there will be an estimated 10.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.18 (0.93%) than the support at $2.11 (2.31%), 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
Traeger, Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0400. We will update the financials statements for Traeger, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.43% in the first trading day after earnings release.
Is Traeger, Inc. stock A Buy?
Traeger, Inc. 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: -2.029 Sell Candidate Unchanged
Predicted Opening Price for Traeger, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $2.14 ( 1.08%) | $2.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COOK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.21 | 2.16 % | |
| R2 | 2.18 | 0.92 % | ||
| R1 | 2.16 | 0.158 % | ||
| Current price: | 2.16 | |||
| Support | S1 | 2.11 | -2.32 % | |
| S2 | 2.09 | -3.08 % | ||
| S3 | 2.07 | -4.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.39 | 10.65 % | |
| R2 | 2.22 | 2.78 % | ||
| R1 | 2.18 | 0.93 % | ||
| Current price | 2.16 | |||
| Support | S1 | 2.11 | -2.31% | |
| S2 | 2.08 | -3.70% | ||
| S3 | 2.04 | -5.56% |
FAQ
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