CVR Energy Stock Forecast
CVR Energy stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)
The CVR Energy stock price fell by -0.797% on the last day (Wednesday, 27th Mar 2024) from $35.15 to $34.87. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.19% from a day low at $34.76 to a day high of $35.52. The price has fallen in 7 of the last 10 days but is still up by 0.49% over the past 2 weeks. Volume has increased on the last day by 158 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, 883 thousand shares were bought and sold for approximately $30.79 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.06% during the next 3 months and, with a 90% probability hold a price between $38.84 and $43.18 at the end of this 3-month period.
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CVI Signals & Forecast
The CVR Energy stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $36.04. On a fall, the stock will find some support from the long-term average at approximately $34.34. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -5.19%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for CVR Energy stock
CVR Energy finds support from accumulated volume at $34.47 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 $0.760 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: $33.33 (-4.42%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (CVI) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect CVR Energy Inc to open at $35.05, and during the day (based on 14 day Average True Range), to move between $33.74 and $36.00, which gives a possible trading interval of +/-$1.13 (+/-3.24%) up or down from last closing price. If CVR Energy Inc takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.05 (0.52%) than the support at $34.47 (1.15%), 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 CVR Energy Inc stock A Buy?
CVR Energy holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.406 Hold/Accumulate Downgraded
Predicted Opening Price for CVR Energy Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$35.05 ( 0.516%) | $34.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 35.81 | 2.70 % | |
R2 | 35.52 | 1.86 % | ||
R1 | 35.34 | 1.35 % | ||
Current price: | 34.87 | |||
Support | S1 | 34.76 | -0.316 % | |
S2 | 34.58 | -0.83 % | ||
S3 | 34.29 | -1.66 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 35.90 | 2.95 % | |
R2 | 35.67 | 2.29 % | ||
R1 | 35.05 | 0.516 % | ||
Current price | 34.87 | |||
Support | S1 | 34.47 | -1.15% | |
S2 | 33.44 | -4.10% | ||
S3 | 32.47 | -6.88% |
CVI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Mar 01, 2024 | Mar 11, 2024 | $0.500 | 1.52% |
2 | Oct 30, 2023 | Nov 10, 2023 | Nov 20, 2023 | $2.00 | 6.28% |
3 | Oct 30, 2023 | Nov 09, 2023 | Nov 20, 2023 | $1.50 | 4.71% |
4 | Jul 31, 2023 | Aug 11, 2023 | Aug 21, 2023 | $1.00 | 2.90% |
5 | May 01, 2023 | May 12, 2023 | May 22, 2023 | $0.500 | 1.97% |
FAQ
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