Calavo Growers Stock Forecast
Evaluation of Calavo Growers stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The Calavo Growers stock price fell by -1.39% on the last day (Friday, 26th Apr 2024) from $27.41 to $27.03. During the last trading day the stock fluctuated 2.52% from a day low at $26.99 to a day high of $27.67. The price has risen in 7 of the last 10 days and is up by 10.6% over the past 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 -13 thousand shares and in total, 172 thousand shares were bought and sold for approximately $4.64 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.39% during the next 3 months and, with a 90% probability hold a price between $22.22 and $27.55 at the end of this 3-month period.
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CVGW Signals & Forecast
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. The Calavo Growers 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 $27.42 and $27.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -4.86%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A buy signal from a double bottom formation was found on Friday, April 12, 2024 and based on theory for this formation the price should go up by 24.29% to $33.60 within 49 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Calavo Growers stock
Calavo Growers finds support from accumulated volume at $26.78 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 $0.680 between high and low, or 2.52%. For the last week, the stock has had daily average volatility of 4.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVGW) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Calavo Growers to open at $27.23, and during the day (based on 14 day Average True Range), to move between $26.01 and $28.05, which gives a possible trading interval of +/-$1.02 (+/-3.79%) up or down from last closing price. If Calavo Growers takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $26.78 (0.92%) than the resistance at $27.75 (2.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Calavo Growers stock A Buy?
Calavo Growers holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.727 Sell Candidate Downgraded
Predicted Opening Price for Calavo Growers of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $27.23 ( 0.740%) | $27.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVGW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.91 | 3.26 % | |
| R2 | 27.65 | 2.29 % | ||
| R1 | 27.49 | 1.70 % | ||
| Current price: | 27.03 | |||
| Support | S1 | 26.97 | -0.221 % | |
| S2 | 26.81 | -0.81 % | ||
| S3 | 26.55 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.51 | 9.16 % | |
| R2 | 28.70 | 6.18 % | ||
| R1 | 27.75 | 2.66 % | ||
| Current price | 27.03 | |||
| Support | S1 | 26.78 | -0.92% | |
| S2 | 26.09 | -3.48% | ||
| S3 | 24.50 | -9.36% |
CVGW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 11, 2024 | Mar 28, 2024 | Apr 29, 2024 | $0.100 | 0.370% |
| 2 | Jan 25, 2024 | Jan 25, 2024 | Jan 31, 2024 | $0.100 | 0.383% |
| 3 | Sep 06, 2023 | Sep 26, 2023 | Oct 11, 2023 | $0.100 | 0.386% |
| 4 | Jun 05, 2023 | Jun 26, 2023 | Jul 11, 2023 | $0.100 | 0.347% |
| 5 | Mar 12, 2023 | Mar 23, 2023 | Jul 11, 2023 | $0.100 | 0.347% |
FAQ
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