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AI Analysis of PETQ
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PetIQ, Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 21, 2024 Loss -0.91% PDF

The PetIQ, Inc. stock price fell by -1.97% on the last day (Wednesday, 27th Mar 2024) from $17.79 to $17.44. During the last trading day the stock fluctuated 4.66% from a day low at $17.38 to a day high of $18.19. The price has fallen in 6 of the last 10 days but is still up by 5.25% over the past 2 weeks. Volume has increased on the last day by 34 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, 296 thousand shares were bought and sold for approximately $5.16 million.

The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $17.75 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.65% during the next 3 months and, with a 90% probability hold a price between $13.43 and $15.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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PETQ Signals & Forecast

The PetIQ, Inc. 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 $17.44 and $17.41. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -1.97%. 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 PetIQ, Inc. stock

PetIQ, Inc. finds support from accumulated volume at $16.57 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 $0.81 between high and low, or 4.66%. For the last week, the stock has had daily average volatility of 3.61%.

Our recommended stop-loss: $16.83 (-3.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (PETQ) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect PetIQ, Inc. to open at $17.67, and during the day (based on 14 day Average True Range), to move between $16.77 and $18.11, which gives a possible trading interval of +/-$0.669 (+/-3.84%) up or down from last closing price. If PetIQ, Inc. takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.48 (0.23%) than the support at $16.57 (4.99%), 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 PetIQ, Inc. stock A Buy?

PetIQ, Inc. 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: 0.348 Hold/Accumulate Downgraded

Predicted Opening Price for PetIQ, Inc. of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$17.67 ( 1.32%) $17.44

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

Trading levels for PETQ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 18.48 5.96 %
R2 18.17 4.19 %
R1 17.98 3.09 %
Current price: 17.44
Support S1 17.36 -0.455 %
S2 17.17 -1.55 %
S3 16.86 -3.33 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 18.21 4.42 %
R2 17.85 2.35 %
R1 17.48 0.229 %
Current price 17.44
Support S1 16.57 -4.99%
S2 16.43 -5.79%
S3 15.78 -9.52%

FAQ

What is the symbol for PetIQ, Inc. Stock and on which exchange is it traded?
The symbol for PetIQ, Inc. is PETQ and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell PetIQ, Inc. Stock?
PetIQ, Inc. 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.

How to buy PetIQ, Inc. Stock?
PetIQ, Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy PetIQ, Inc. Stock.

What's the current price of PetIQ, Inc. Stock?
As of the end of day on the 2024-03-27, the price of an PetIQ, Inc. (PETQ) share was $17.44.

What is the 52-week high and low for PetIQ, Inc. Stock?
The 52-week high for PetIQ, Inc. Stock is $22.98 and the 52-week low is $10.78.

What is the market capitalization of PetIQ, Inc. Stock?
As of the 2024-03-27, the market capitalization of PetIQ, Inc. is 519.251M.

When is the next earnings date for PetIQ, Inc.?
The upcoming earnings date for PetIQ, Inc. is May 14, 2024.
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About PetIQ, Inc.

PetIQ. PetIQ, Inc. operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which include flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as distributes ... PETQ Profile

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