Texas Roadhouse Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Texas Roadhouse stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The Texas Roadhouse stock price gained 0.376% on the last trading day (Friday, 26th Apr 2024), rising from $156.87 to $157.46. During the last trading day the stock fluctuated 1.63% from a day low at $155.90 to a day high of $158.44. The price has risen in 8 of the last 10 days and is up by 5.94% 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, 62 thousand more shares were traded than the day before. In total, 892 thousand shares were bought and sold for approximately $140.53 million.
The stock lies in the middle of a 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 17.40% during the next 3 months and, with a 90% probability hold a price between $181.37 and $190.83 at the end of this 3-month period.
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TXRH Signals & Forecast
The Texas Roadhouse 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 $154.60 and $152.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 6.20%. 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 Texas Roadhouse stock
Texas Roadhouse finds support from accumulated volume at $156.87 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 $2.54 (1.63%) between high and low. For the last week, the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: $149.61 (-4.98%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (TXRH) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Texas Roadhouse to open at $157.27, and during the day (based on 14 day Average True Range), to move between $154.51 and $160.41, which gives a possible trading interval of +/-$2.95 (+/-1.87%) up or down from last closing price. If Texas Roadhouse takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $156.87, some $0.590 (0.37%) from the current price of $157.46, our system finds the risk reward attractive.
Earnings coming up
Texas Roadhouse will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.65. We will update the financials statements for Texas Roadhouse, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.22% in the first trading day after earnings release.
Is Texas Roadhouse stock A Buy?
Texas Roadhouse holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Texas Roadhouse of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$157.27 ( 0.123%) | $157.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TXRH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 159.81 | 1.49 % | |
R2 | 158.84 | 0.87 % | ||
R1 | 158.24 | 0.493 % | ||
Current price: | 157.46 | |||
Support | S1 | 156.30 | -0.739 % | |
S2 | 155.70 | -1.12 % | ||
S3 | 154.73 | -1.74 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 157.46 | |||
Support | S1 | 156.87 | -0.375% | |
S2 | 150.29 | -4.55% | ||
S3 | 147.70 | -6.20% |
TXRH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Mar 12, 2024 | Mar 26, 2024 | $0.610 | 0.401% |
2 | Nov 09, 2023 | Dec 05, 2023 | Dec 26, 2023 | $0.550 | 0.447% |
3 | Aug 10, 2023 | Sep 05, 2023 | Sep 26, 2023 | $0.550 | 0.581% |
4 | May 11, 2023 | Jun 06, 2023 | Jun 23, 2023 | $0.550 | 0.505% |
5 | Feb 14, 2023 | Mar 07, 2023 | Mar 24, 2023 | $0.550 | 0.528% |
FAQ
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