PetMed Stock Forecast
PetMed stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The PetMed stock price fell by -1.03% on the last day (Thursday, 28th Mar 2024) from $4.84 to $4.79. During the last trading day the stock fluctuated 3.35% from a day low at $4.78 to a day high of $4.94. The price has fallen in 6 of the last 10 days but is still up by 0.84% over the past 2 weeks. Volume has increased on the last day by 21 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, 281 thousand shares were bought and sold for approximately $1.34 million.
Given the current short-term trend, the stock is expected to fall -39.57% during the next 3 months and, with a 90% probability hold a price between $2.45 and $2.89 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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PETS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 1.91%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The PetMed 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 $4.79 and $5.08. A break-up above any of these levels will issue buy signals. PetMed gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for PetMed stock
PetMed finds support from accumulated volume at $4.76 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 $0.160 between high and low, or 3.35%. For the last week, the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: $4.57 (-4.59%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (PETS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect PetMed Express to open at $4.84, and during the day (based on 14 day Average True Range), to move between $4.61 and $4.97, which gives a possible trading interval of +/-$0.184 (+/-3.84%) up or down from last closing price. If PetMed Express 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 support from accumulated volume at $4.76 (0.63%) than the resistance at $5.28 (10.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PetMed Express stock A Buy?
PetMed 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.508 Hold/Accumulate Upgraded
Predicted Opening Price for PetMed Express of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$4.84 ( 0.97%) | $4.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PETS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.00 | 4.31 % | |
R2 | 4.94 | 3.04 % | ||
R1 | 4.90 | 2.25 % | ||
Current price: | 4.79 | |||
Support | S1 | 4.78 | -0.302 % | |
S2 | 4.74 | -1.09 % | ||
S3 | 4.68 | -2.37 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.94 | 24.01 % | |
R2 | 5.87 | 22.55 % | ||
R1 | 5.28 | 10.23 % | ||
Current price | 4.79 | |||
Support | S1 | 4.76 | -0.626% | |
S2 | 4.75 | -0.84% | ||
S3 | 4.70 | -1.88% |
PETS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 31, 2023 | Aug 14, 2023 | Aug 18, 2023 | $0.300 | 2.52% |
2 | Jul 31, 2023 | Aug 11, 2023 | Aug 18, 2023 | $0.300 | 2.52% |
3 | May 22, 2023 | Jun 05, 2023 | Jun 12, 2023 | $0.300 | 2.03% |
4 | Feb 06, 2023 | Feb 16, 2023 | Feb 27, 2023 | $0.300 | 1.58% |
5 | Nov 07, 2022 | Nov 17, 2022 | Nov 30, 2022 | $0.300 | 1.52% |
FAQ
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