Freshpet Stock Forecast

Red day on Thursday for Freshpet stock after losing 1.25%
(Updated on Apr 18, 2024)

FRPT Signals & Forecast

There are few to no technical positive signals at the moment. The Freshpet 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 $107.74 and $111.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -10.60%. 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 Freshpet stock

On the downside, the stock finds support just below today's level from accumulated volume at $92.01 and $88.38. 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, Freshpet finds support just below today's level at $92.01. If this is broken, then the next support from accumulated volume will be at $88.38 and $87.99.

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 $1.86 between high and low, or 1.80%. For the last week, the stock has had daily average volatility of 2.71%.

Freshpet is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $98.07 (-5.56%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 22 which reduces the risk some. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (FRPT) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Freshpet to open at $104.26, and during the day (based on 14 day Average True Range), to move between $100.88 and $106.80, which gives a possible trading interval of +/-$2.96 (+/-2.86%) up or down from last closing price. If Freshpet takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $108.28 (4.28%) than the support at $92.01 (11.39%), 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 Freshpet stock A Buy?

Freshpet holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.723 Hold/Accumulate Unchanged

Predicted Opening Price for Freshpet of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.