Chart Of The Day: Sweetgreen Tastes Sweet -

Chart Of The Day: Sweetgreen Tastes Sweet

Apr 02, 2024Jeremy ParkinsonFinance0

Image Source: Depositphotos
The Chart of the Day belongs to the healthy fast food restaurant Sweetgreen (SG). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/ 29 the stock gained 131.52%.SG Price vs Daily Moving AveragesSweetgreen, Inc., together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:

100% technical buy signals

212.13+ Weighted Alpha

229.27% gain in the last year

Trend Seeker buy signal

Above its 20, 50, and 100-day moving averages

16 new highs and up 57.79% in the last month

Relative Strength Index 81.12%

Technical support level at $24.87

Recently traded at $25.76 with a 50-day moving average of $15.75

Fundamental Factors:

Market Cap $2.86 billion

Revenue is projected to grow 13.90% this year and grow another 15.80% next year

Earnings are estimated to increase 46.80% this year, increase an additional 26.00% next year, and continue to compound at an annual rate of 27.00% for the next 5 years

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street analysts issued 5 strong buy, 1 buy, 2 hold, and 1 sell recommendation this month

Their price targets are between $11.00 and $28

CFRA’s MarketScope Advisor rates the stock a hold

3,370 investors monitor the stock on Seeking Alpha

More By This Author:Chart Of The Day: Banco Santander – European Banks Rally!
Chart Of The Day: Air Lease – Leases Both Boeing And Airbus
Chart Of The Day: Stellantis – Back In The Driver’s Seat