CVB Financial Corporation Stock Forecast
CVB Financial Corporation stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The CVB Financial Corporation stock price fell by -0.96% on the last day (Monday, 22nd Apr 2024) from $16.63 to $16.47. During the last trading day the stock fluctuated 2.22% from a day low at $16.22 to a day high of $16.58. The price has been going up and down for this period, and there has been a -3.35% loss for the last 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 -39 thousand shares and in total, 763 thousand shares were bought and sold for approximately $12.57 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 -6.80% during the next 3 months and, with a 90% probability hold a price between $14.60 and $16.63 at the end of this 3-month period.
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CVBF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.57%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CVB Financial Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $16.93. On a fall, the stock will find some support from the short-term average at $16.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 CVB Financial Corporation stock
CVB Financial Corporation finds support from accumulated volume at $16.42 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 $0.360 between high and low, or 2.22%. For the last week, the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVBF) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect CVB Financial Corporation to open at $16.42, and during the day (based on 14 day Average True Range), to move between $15.97 and $16.97, which gives a possible trading interval of +/-$0.499 (+/-3.03%) up or down from last closing price. If CVB Financial Corporation takes out the full calculated possible swing range there will be an estimated 6.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.42 (0.30%) than the resistance at $16.73 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
CVB Financial Corporation will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for CVB Financial Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.66% in the first trading day after earnings release.
Is CVB Financial Corporation stock A Buy?
CVB Financial Corporation holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -2.378 Sell Candidate Downgraded
Predicted Opening Price for CVB Financial Corporation of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $16.42 ( 0.283%) | $16.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVBF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.78 | 1.90 % | |
| R2 | 16.65 | 1.07 % | ||
| R1 | 16.56 | 0.552 % | ||
| Current price: | 16.47 | |||
| Support | S1 | 16.29 | -1.12 % | |
| S2 | 16.20 | -1.63 % | ||
| S3 | 16.06 | -2.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.29 | 11.05 % | |
| R2 | 16.76 | 1.76 % | ||
| R1 | 16.73 | 1.58 % | ||
| Current price | 16.47 | |||
| Support | S1 | 16.42 | -0.304% | |
| S2 | 16.31 | -0.97% | ||
| S3 | 16.25 | -1.34% |
CVBF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Apr 02, 2024 | Apr 17, 2024 | $0.200 | 1.26% |
| 2 | Dec 20, 2023 | Jan 04, 2024 | Jan 22, 2024 | $0.200 | 1.03% |
| 3 | Sep 20, 2023 | Oct 03, 2023 | Oct 19, 2023 | $0.200 | 1.24% |
| 4 | Jun 21, 2023 | Jul 05, 2023 | Jul 20, 2023 | $0.200 | 1.24% |
| 5 | Mar 22, 2023 | Apr 04, 2023 | Apr 19, 2023 | $0.200 | 1.27% |
FAQ
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