Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cheesecake Factory Inc. shares valued at $151,761 were sold by Carango Keith on May 14 ’24. At $40.10 per share, Carango Keith sold 3,785 shares. The insider’s holdings dropped to 28,072 shares worth approximately $1.04 million following the completion of this transaction.
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As published in a research note from Stephens on May 15, 2024, Cheesecake Factory Inc. [CAKE] has been retained to an Overweight and the price target has been revised to $50. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early May. As of May 09, 2024, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for CAKE.
Analyzing CAKE Stock Performance
During the last five days, there has been a drop of approximately -9.51%. Over the course of the year, Cheesecake Factory Inc. shares have jumped approximately 6.00%. Shares of the company reached a 52-week high of $41.25 on 05/15/24 and a 52-week low of $31.24 on 01/17/24. A 50-day SMA is recorded $35.64, while a 200-day SMA reached $33.42. Nevertheless, trading volume fell to 1.33 million shares from 0.86 million shares the previous day.
Support And Resistance Levels for Cheesecake Factory Inc. (CAKE)
According to the 24-hour chart, there is a support level at 36.86, which, if violated, would cause prices to drop to 36.62. In the upper region, resistance lies at 37.46. The next price resistance is at 37.82. RSI (Relative Strength Index) is 52.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.43, which suggests the price will decrease in the coming days. Percent R is at 53.29%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
