Central Garden & Pet Company : Close to an important technical resistance levels
Entry price | Target | Stop-loss | Potential |
---|
$41.12 |
$45 |
$38.6 |
+9.44% |
---|
Central Garden & Pet Company shares are closing in on important technical levels. The technical chart pattern suggests that the currently tested resistance will be broken and new upside potential arises while volatility is likely to increase. Investors could get ahead of this signal in order to benefit from a better risk/reward ratio.
Summary● The company has solid fundamentals for a short-term investment strategy.
Strengths● Predictions on business development from analysts polled by Standard & Poor's are tight. This results from either a good visibility into core activities or accurate earnings releases.
● Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.
● Over the last twelve months, the sales forecast has been frequently revised upwards.
● For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.
● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.
● The tendency within the weekly time frame is positive above the technical support level at 32.27 USD
Weaknesses● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
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