Scotts Miracle-Gro Company (The) Stock Forecast
Volatile ride for Scotts Miracle-Gro Company (The) stock price on Wednesday moving between $64.61 and $73.38
(Updated on May 01, 2024)
The Scotts Miracle-Gro Company (The) stock price fell by -0.511% on the last day (Wednesday, 1st May 2024) from $68.54 to $68.19. During the last trading day the stock fluctuated 13.57% from a day low at $64.61 to a day high of $73.38. The price has risen in 6 of the last 10 days and is up by 0.72% 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 -162 thousand shares and in total, 2 million shares were bought and sold for approximately $118.01 million.
Given the current short-term trend, the stock is expected to rise 24.80% during the next 3 months and, with a 90% probability hold a price between $85.10 and $100.14 at the end of this 3-month period.
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SMG Signals & Forecast
There are few to no technical positive signals at the moment. The Scotts Miracle-Gro Company (The) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $68.24 and $70.33. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -10.35%. 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 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 Scotts Miracle-Gro Company (The) stock
Scotts Miracle-Gro Company (The) finds support from accumulated volume at $67.18 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 $8.77 between high and low, or 13.57%. For the last week, the stock has had daily average volatility of 4.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMG) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Scotts Miracle-Gro Company (The) to open at $68.73, and during the day (based on 14 day Average True Range), to move between $65.62 and $70.76, which gives a possible trading interval of +/-$2.57 (+/-3.77%) up or down from last closing price. If Scotts Miracle-Gro Company (The) takes out the full calculated possible swing range there will be an estimated 7.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $68.54 (0.51%) than the support at $67.18 (1.48%), 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 Scotts Miracle-Gro Company (The) stock A Buy?
The Scotts Miracle-Gro Company (The) stock holds several negative signals and despite the positive trend, we believe Scotts Miracle-Gro Company (The) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.376 Sell Candidate Unchanged
Predicted Opening Price for Scotts Miracle-Gro Company (The) of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $68.73 ( 0.787%) | $68.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.50 | 13.65 % | |
| R2 | 74.15 | 8.74 % | ||
| R1 | 72.08 | 5.70 % | ||
| Current price: | 68.19 | |||
| Support | S1 | 65.38 | -4.13 % | |
| S2 | 63.31 | -7.16 % | ||
| S3 | 59.96 | -12.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.06 | 8.61 % | |
| R2 | 68.76 | 0.84 % | ||
| R1 | 68.54 | 0.513 % | ||
| Current price | 68.19 | |||
| Support | S1 | 67.18 | -1.48% | |
| S2 | 64.00 | -6.14% | ||
| S3 | 57.16 | -16.18% |
SMG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | Jun 07, 2024 | $0.660 | 0.97% |
| 2 | Jan 22, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.660 | 0.97% |
| 3 | Oct 31, 2023 | Nov 24, 2023 | Dec 08, 2023 | $0.660 | 1.09% |
| 4 | Aug 01, 2023 | Aug 24, 2023 | Sep 08, 2023 | $0.660 | 1.24% |
| 5 | Apr 24, 2023 | May 25, 2023 | Jun 09, 2023 | $0.660 | 1.07% |
FAQ
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