Freshpet Stock Forecast
Green day on Tuesday for Freshpet stock after gaining 0.468%
(Updated on Apr 23, 2024)
The Freshpet stock price gained 0.468% on the last trading day (Tuesday, 23rd Apr 2024), rising from $104.75 to $105.24. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.72% from a day low at $104.79 to a day high of $106.59. The price has fallen in 7 of the last 10 days and is down by -8.22% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 370 thousand shares were bought and sold for approximately $38.90 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $105.22 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 31.54% during the next 3 months and, with a 90% probability hold a price between $138.41 and $159.57 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FRPT Signals & Forecast
There are mixed signals in the stock today. The Freshpet 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 $110.67. On a fall, the stock will find some support from the short-term average at $105.00. 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. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -9.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Freshpet stock
On the downside, the stock finds support just below today's level from accumulated volume at $92.01 and $88.38. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Freshpet finds support just below today's level at $92.01. If this is broken, then the next support from accumulated volume will be at $88.38 and $87.99.
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 $1.81 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FRPT) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Freshpet to open at $105.54, and during the day (based on 14 day Average True Range), to move between $102.46 and $108.02, which gives a possible trading interval of +/-$2.78 (+/-2.64%) up or down from last closing price. If Freshpet takes out the full calculated possible swing range there will be an estimated 5.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $108.28 (2.89%) than the support at $92.01 (12.57%), 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 Freshpet stock A Buy?
Freshpet 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: -2.423 Sell Candidate Unchanged
Predicted Opening Price for Freshpet of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $105.54 ( 0.283%) | $105.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRPT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.34 | 2.00 % | |
| R2 | 106.65 | 1.34 % | ||
| R1 | 106.23 | 0.94 % | ||
| Current price: | 105.24 | |||
| Support | S1 | 104.85 | -0.372 % | |
| S2 | 104.42 | -0.776 % | ||
| S3 | 103.73 | -1.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 113.03 | 7.40 % | |
| R2 | 110.12 | 4.64 % | ||
| R1 | 108.28 | 2.89 % | ||
| Current price | 105.24 | |||
| Support | S1 | 92.01 | -12.57% | |
| S2 | 88.38 | -16.02% | ||
| S3 | 87.99 | -16.39% |
FAQ
Click here for our free guide on how to buy Freshpet Stock.
