Cavco Industries Stock Forecast
Cavco Industries stock price ended at $339.44 on Tuesday, after gaining 0.602%.
(Updated on Jul 02, 2024)
The Cavco Industries stock price gained 0.602% on the last trading day (Tuesday, 2nd Jul 2024), rising from $337.41 to $339.44. During the last trading day the stock fluctuated 1.37% from a day low at $335.70 to a day high of $340.30. The price has fallen in 6 of the last 10 days and is down by -5.09% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 42 thousand shares were bought and sold for approximately $14.22 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $336.89 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.90% during the next 3 months and, with a 90% probability hold a price between $310.27 and $344.97 at the end of this 3-month period.
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CVCO Signals & Forecast
There are mixed signals in the stock today. The Cavco Industries 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 $344.15 and $355.26. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.602%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Cavco Industries stock
Cavco Industries finds support from accumulated volume at $337.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.60 (1.37%) between high and low. For the last week, the stock has had daily average volatility of 1.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVCO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Cavco Industries to open at $338.48, and during the day (based on 14 day Average True Range), to move between $330.22 and $348.66, which gives a possible trading interval of +/-$9.22 (+/-2.72%) up or down from last closing price. If Cavco Industries takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $337.41 (0.60%) than the resistance at $347.88 (2.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cavco Industries stock A Buy?
Cavco Industries 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.
Current score: -2.339 Sell Candidate Unchanged
Predicted Opening Price for Cavco Industries of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$338.48 ( 0.283%) | $339.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVCO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 343.08 | 1.07% |
R2 | 341.32 | 0.555% |
R1 | 340.24 | 0.235% |
Price | 339.44 | |
S1 | 336.72 | -0.80% |
S2 | 335.64 | -1.12% |
S3 | 333.88 | -1.64% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 357.69 | 5.38% |
R2 | 353.72 | 4.21% |
R1 | 347.88 | 2.49% |
Price | 339.44 | |
S1 | 337.41 | -0.598% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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