Petmed Express Inc Stock Forecast
Stronger technical forecast for Petmed Express Inc stock price after Friday trading.
(Updated on May 03, 2024)
The Petmed Express Inc stock price gained 1.44% on the last trading day (Friday, 3rd May 2024), rising from £291.80 to £296.00. During the last trading day the stock fluctuated 2.89% from a day low at £290.20 to a day high of £298.60. The price has risen in 6 of the last 10 days and is up by 7.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 303 thousand more shares were traded than the day before. In total, 937 thousand shares were bought and sold for approximately £277.35 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. £293.02 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach £331.89 sometime during the next 3 months.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PETS.L Signals & Forecast
Mostly positive signals in the chart today. The Petmed Express Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £290.43 and £275.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 16.35%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Petmed Express Inc stock
Petmed Express Inc finds support from accumulated volume at £288.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £8.40 (2.89%) between high and low. For the last week, the stock has had daily average volatility of 5.34%.
Our recommended stop-loss: £284.99 (-3.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (PETS.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Petmed Express Inc to open at £294.93, and during the day (based on 14 day Average True Range), to move between £285.30 and £306.70, which gives a possible trading interval of +/-£10.70 (+/-3.62%) up or down from last closing price. If Petmed Express Inc takes out the full calculated possible swing range there will be an estimated 7.23% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £288.20, some £7.80 (2.64%) from the current price of £296.00, our system finds the risk reward attractive.
Is Petmed Express Inc stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Petmed Express Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.881 Buy Candidate Upgraded
Predicted Opening Price for Petmed Express Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £294.93 ( 0.360%) | £296.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PETS.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 303.33 | 2.48 % | |
| R2 | 300.12 | 1.39 % | ||
| R1 | 298.14 | 0.724 % | ||
| Current price: | 296.00 | |||
| Support | S1 | 291.72 | -1.44 % | |
| S2 | 289.74 | -2.11 % | ||
| S3 | 286.53 | -3.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 296.00 | |||
| Support | S1 | 288.20 | -2.64% | |
| S2 | 284.80 | -3.78% | ||
| S3 | 276.00 | -6.76% |
PETS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 07, 2023 | Dec 07, 2023 | Dec 07, 2023 | £0 | 0% |
| 2 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | £8.30 | 2.20% |
| 3 | Nov 23, 2022 | Dec 01, 2022 | Jan 06, 2023 | £4.50 | 1.46% |
| 4 | May 25, 2022 | Jun 16, 2022 | Jul 12, 2022 | £7.50 | 2.59% |
| 5 | May 25, 2022 | Jun 15, 2022 | Jul 12, 2022 | £7.50 | 2.59% |
FAQ
Click here for our free guide on how to buy Petmed Express Inc Stock.
