The Cheesecake Factory Incorporated Stock Forecast
Red day on Thursday for The Cheesecake Factory Incorporated
(Updated on Mar 28, 2024)
The The Cheesecake Factory Incorporated stock price fell by -0.605% on the last day (Thursday, 28th Mar 2024) from $36.37 to $36.15. During the last trading day the stock fluctuated 1.36% from a day low at $36.12 to a day high of $36.61. The price has fallen in 6 of the last 10 days but is still up by 0.53% 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 -140 thousand shares and in total, 578 thousand shares were bought and sold for approximately $20.90 million.
The stock lies in the middle of a weak 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 8.64% during the next 3 months and, with a 90% probability hold a price between $37.61 and $41.02 at the end of this 3-month period.
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CAKE Signals & Forecast
The The Cheesecake Factory Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $35.42 and $35.52. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -2.22%. 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 The Cheesecake Factory Incorporated stock
The Cheesecake Factory Incorporated finds support from accumulated volume at $35.85 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 $0.490 (1.36%) between high and low. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: $34.60 (-4.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (CAKE) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect The Cheesecake Factory Incorporated to open at $36.29, and during the day (based on 14 day Average True Range), to move between $35.19 and $37.11, which gives a possible trading interval of +/-$0.96 (+/-2.66%) up or down from last closing price. If The Cheesecake Factory Incorporated takes out the full calculated possible swing range there will be an estimated 5.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.31 (0.44%) than the support at $35.85 (0.83%), 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 Cheesecake Factory Incorporated stock A Buy?
The Cheesecake Factory Incorporated 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.
Current score: 0.539 Hold/Accumulate Unchanged
Predicted Opening Price for The Cheesecake Factory Incorporated of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$36.29 ( 0.396%) | $36.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAKE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.78 | 1.75 % | |
R2 | 36.60 | 1.23 % | ||
R1 | 36.48 | 0.91 % | ||
Current price: | 36.15 | |||
Support | S1 | 36.11 | -0.121 % | |
S2 | 35.99 | -0.441 % | ||
S3 | 35.80 | -0.96 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.97 | 2.27 % | |
R2 | 36.91 | 2.10 % | ||
R1 | 36.31 | 0.443 % | ||
Current price | 36.15 | |||
Support | S1 | 35.85 | -0.83% | |
S2 | 35.33 | -2.27% | ||
S3 | 34.23 | -5.31% |
CAKE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 21, 2024 | Mar 05, 2024 | Mar 19, 2024 | $0.270 | 0.747% |
2 | Oct 26, 2023 | Nov 14, 2023 | Nov 28, 2023 | $0.270 | 0.84% |
3 | Jul 27, 2023 | Aug 15, 2023 | Aug 29, 2023 | $0.270 | 0.83% |
4 | May 10, 2023 | May 23, 2023 | Jun 06, 2023 | $0.270 | 0.82% |
5 | Feb 16, 2023 | Mar 07, 2023 | Mar 21, 2023 | $0.270 | 0.783% |
FAQ
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