CVR Energy Stock Forecast
CVR Energy stock price ended at $29.37 on Wednesday, after losing 3.32%.
(Updated on May 01, 2024)
The CVR Energy stock price fell by -3.32% on the last day (Wednesday, 1st May 2024) from $30.38 to $29.37. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 6.91% from a day low at $28.95 to a day high of $30.95. The price has fallen in 7 of the last 10 days and is down by -12.09% for this period. 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 -376 thousand shares and in total, 1 million shares were bought and sold for approximately $41.81 million.
Given the current horizontal trend, you can expect CVR Energy stock with a 90% probability to be traded between $29.12 and $37.20 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CVI Signals & Forecast
There are few to no technical positive signals at the moment. The CVR Energy stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $32.39 and $34.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -21.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CVR Energy stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $2.00 between high and low, or 6.91%. For the last week, the stock has had daily average volatility of 4.75%.
CVR Energy is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect CVR Energy Inc to open at $29.76, and during the day (based on 14 day Average True Range), to move between $28.14 and $30.60, which gives a possible trading interval of +/-$1.23 (+/-4.19%) up or down from last closing price. If CVR Energy Inc takes out the full calculated possible swing range there will be an estimated 8.39% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $30.38, some $1.01 (3.44%) from the current price of $29.37, our system finds the risk reward not very attractive.
Is CVR Energy Inc stock A Buy?
CVR Energy holds several negative signals and is within a very 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.
Current score: -4.570 Sell Candidate Unchanged
Predicted Opening Price for CVR Energy Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $29.76 ( 1.32%) | $29.37 |
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 | 31.76 | 8.13 % | |
| R2 | 30.99 | 5.52 % | ||
| R1 | 30.52 | 3.92 % | ||
| Current price: | 29.37 | |||
| Support | S1 | 28.99 | -1.28 % | |
| S2 | 28.52 | -2.89 % | ||
| S3 | 27.76 | -5.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.47 | 17.36 % | |
| R2 | 33.44 | 13.86 % | ||
| R1 | 30.38 | 3.44 % | ||
| Current price | 29.37 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CVI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2024 | May 10, 2024 | May 20, 2024 | $0.500 | 1.70% |
| 2 | Feb 20, 2024 | Mar 01, 2024 | Mar 11, 2024 | $0.500 | 1.52% |
| 3 | Oct 30, 2023 | Nov 10, 2023 | Nov 20, 2023 | $2.00 | 6.28% |
| 4 | Oct 30, 2023 | Nov 09, 2023 | Nov 20, 2023 | $1.50 | 4.71% |
| 5 | Jul 31, 2023 | Aug 11, 2023 | Aug 21, 2023 | $1.00 | 2.90% |
FAQ
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