Toast, Inc. Stock Forecast
Toast, Inc. stock downgraded to Strong Sell Candidate
(Updated on May 01, 2024)
The Toast, Inc. stock price fell by -2.67% on the last day (Wednesday, 1st May 2024) from $23.63 to $23.00. During the last trading day the stock fluctuated 4.38% from a day low at $22.62 to a day high of $23.61. The price has been going up and down for this period, and there has been a 1.1% gain for the last 2 weeks. Volume has increased on the last day by 3 million 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, 7 million shares were bought and sold for approximately $158.25 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.75% during the next 3 months and, with a 90% probability hold a price between $25.39 and $31.42 at the end of this 3-month period.
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TOST Signals & Forecast
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 Toast, Inc. 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 $23.41 and $23.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -8.33%. Further fall is indicated until a new bottom pivot has been found. 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 Toast, Inc. stock
Toast, Inc. finds support from accumulated volume at $22.42 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 $0.99 between high and low, or 4.38%. For the last week, the stock has had daily average volatility of 3.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TOST) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Toast, Inc. to open at $23.08, and during the day (based on 14 day Average True Range), to move between $22.09 and $23.91, which gives a possible trading interval of +/-$0.91 (+/-3.96%) up or down from last closing price. If Toast, Inc. takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.12 (0.52%) than the support at $22.42 (2.52%), 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
Toast, Inc. will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.150. We will update the financials statements for Toast, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.18% in the first trading day after earnings release.
Is Toast, Inc. stock A Buy?
The Toast, Inc. stock holds several negative signals and despite the positive trend, we believe Toast, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -5.440 Strong Sell Candidate Downgraded
Predicted Opening Price for Toast, Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $23.08 ( 0.333%) | $23.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TOST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.07 | 4.64 % | |
| R2 | 23.69 | 2.99 % | ||
| R1 | 23.45 | 1.98 % | ||
| Current price: | 23.00 | |||
| Support | S1 | 22.70 | -1.31 % | |
| S2 | 22.46 | -2.33 % | ||
| S3 | 22.09 | -3.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.39 | 6.04 % | |
| R2 | 24.33 | 5.78 % | ||
| R1 | 23.12 | 0.522 % | ||
| Current price | 23.00 | |||
| Support | S1 | 22.42 | -2.52% | |
| S2 | 21.78 | -5.30% | ||
| S3 | 19.20 | -16.52% |
FAQ
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