The Simply Good Foods Company Stock Forecast
Red day on Monday for The Simply Good Foods Company stock after losing 0.91%
(Updated on Jun 17, 2024)
The The Simply Good Foods Company stock price fell by -0.91% on the last day (Monday, 17th Jun 2024) from $36.42 to $36.09. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.95% from a day low at $35.89 to a day high of $36.59. The price has fallen in 8 of the last 10 days and is down by -4.4% for this period. Volume has increased on the last day by 181 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 687 thousand shares were bought and sold for approximately $24.80 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 $35.66 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 16.54% during the next 3 months and, with a 90% probability hold a price between $41.56 and $46.00 at the end of this 3-month period.
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SMPL Signals & Forecast
There are few to no technical positive signals at the moment. The The Simply Good Foods Company 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 $36.69 and $37.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -6.24%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for The Simply Good Foods Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $33.81 and $33.49. 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, The Simply Good Foods Company finds support just below today's level at $33.81. If this is broken, then the next support from accumulated volume will be at $33.49 and $32.73.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.700 between high and low, or 1.95%. For the last week the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMPL) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect The Simply Good Foods Company to open at $36.19, and during the day (based on 14 day Average True Range), to move between $35.33 and $36.85, which gives a possible trading interval of +/-$0.761 (+/-2.11%) up or down from last closing price. If The Simply Good Foods Company takes out the full calculated possible swing range there will be an estimated 4.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.45 (1.00%) than the support at $33.81 (6.32%), 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 The Simply Good Foods Company stock A Buy?
The The Simply Good Foods Company stock holds several negative signals and despite the positive trend, we believe The Simply Good Foods Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.404 Sell Candidate Unchanged
Predicted Opening Price for The Simply Good Foods Company of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $36.19 ( 0.277%) | $36.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMPL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 36.89 | 2.22% |
| R2 | 36.62 | 1.48% |
| R1 | 36.46 | 1.02% |
| Price | 36.09 | |
| S1 | 35.92 | -0.464% |
| S2 | 35.76 | -0.92% |
| S3 | 35.49 | -1.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.03 | 2.60% |
| R2 | 36.75 | 1.83% |
| R1 | 36.45 | 1.00% |
| Price | 36.09 | |
| S1 | 33.81 | -6.32% |
| S2 | 33.49 | -7.20% |
| S3 | 32.73 | -9.31% |
SMPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 30, 2015 | Feb 10, 2015 | Feb 20, 2015 | $0.0900 | 0% |
| 2 | Oct 30, 2014 | Nov 06, 2014 | Nov 26, 2014 | $0.0900 | 0% |
| 3 | Jul 31, 2014 | Aug 13, 2014 | Aug 28, 2014 | $0.0900 | 0% |
| 4 | May 01, 2014 | May 13, 2014 | May 30, 2014 | $0.0900 | 0% |
| 5 | Jan 30, 2014 | Feb 12, 2014 | Feb 28, 2014 | $0.0800 | 0% |
FAQ
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