Sprouts Farmers Market Stock Forecast
Red day on Monday for Sprouts Farmers Market
(Updated on Apr 15, 2024)
The Sprouts Farmers Market stock price fell by -0.288% on the last day (Monday, 15th Apr 2024) from $62.50 to $62.32. During the last trading day the stock fluctuated 1.90% from a day low at $62.24 to a day high of $63.42. The price has been going up and down for this period, and there has been a -2.03% loss for the last 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 -228 thousand shares and in total, 800 thousand shares were bought and sold for approximately $49.85 million.
Given the current short-term trend, the stock is expected to rise 33.89% during the next 3 months and, with a 90% probability hold a price between $83.44 and $94.08 at the end of this 3-month period.
SFM Signals & Forecast
There are few to no technical positive signals at the moment. The Sprouts Farmers Market stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $63.32 and $63.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -3.42%. 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 Sprouts Farmers Market stock
Sprouts Farmers Market finds support from accumulated volume at $60.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.18 between high and low, or 1.90%. For the last week the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SFM) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Sprouts Farmers Market to open at $62.66, and during the day (based on 14 day Average True Range), to move between $60.91 and $63.73, which gives a possible trading interval of +/-$1.41 (+/-2.27%) up or down from last closing price. If Sprouts Farmers Market takes out the full calculated possible swing range there will be an estimated 4.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $63.43 (1.78%) than the support at $60.34 (3.18%), 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 Sprouts Farmers Market stock A Buy?
The Sprouts Farmers Market stock holds several negative signals and despite the positive trend, we believe Sprouts Farmers Market will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.966 Sell Candidate Unchanged
Predicted Opening Price for Sprouts Farmers Market of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $62.66 ( 0.546%) | $62.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.84 | 2.44 % | |
| R2 | 63.39 | 1.72 % | ||
| R1 | 63.11 | 1.27 % | ||
| Current price: | 62.32 | |||
| Support | S1 | 62.21 | -0.178 % | |
| S2 | 61.93 | -0.625 % | ||
| S3 | 61.48 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.53 | 3.55 % | |
| R2 | 63.58 | 2.02 % | ||
| R1 | 63.43 | 1.78 % | ||
| Current price | 62.32 | |||
| Support | S1 | 60.34 | -3.18% | |
| S2 | 59.63 | -4.32% | ||
| S3 | 52.63 | -15.55% |
FAQ
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