RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CVCO
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Cavco Industries stock downgraded to Hold/Accumulate
(Updated on Jul 22, 2024)

Buy or Hold candidate since Jul 12, 2024 Gain 8.34% PDF

The Cavco Industries stock price gained 3.11% on the last trading day (Monday, 22nd Jul 2024), rising from $391.30 to $403.48. During the last trading day the stock fluctuated 3.45% from a day low at $390.03 to a day high of $403.48. The price has risen in 6 of the last 10 days and is up by 17.15% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 50 thousand shares were bought and sold for approximately $20.17 million.

The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $410.31 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Cavco Industries stock with a 90% probability to be traded between $328.99 and $403.65 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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CVCO Signals & Forecast

The Cavco Industries stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $392.96 and $358.33. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, July 16, 2024, and so far it has fallen -1.77%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Cavco Industries stock

On the downside, the stock finds support just below today's level from accumulated volume at $357.69 and $353.72. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cavco Industries finds support just below today's level at $357.69. If this is broken, then the next support from accumulated volume will be at $353.72 and $347.88.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $13.45 between high and low, or 3.45%. For the last week, the stock has had daily average volatility of 4.16%.

The Cavco Industries stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $388.40 (-3.74%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (CVCO) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Cavco Industries to open at $399.00, and during the day (based on 14 day Average True Range), to move between $391.18 and $415.78, which gives a possible trading interval of +/-$12.30 (+/-3.05%) up or down from last closing price. If Cavco Industries takes out the full calculated possible swing range there will be an estimated 6.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $410.75 (1.80%) than the support at $357.69 (11.35%), 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 Cavco Industries stock A Buy?

Cavco Industries 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: 0.671 Hold/Accumulate Downgraded

Predicted Opening Price for Cavco Industries of Tuesday, July 23, 2024

Fair opening price July 23, 2024 Current price
$399.00 ( 1.11%) $403.48

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 412.45 2.22%
R2 407.31 0.95%
R1 404.13 0.162%
Price 403.48
S1 393.86 -2.38%
S2 390.68 -3.17%
S3 385.55 -4.44%

Accumulated Volume Support & Resistance Levels

Level Price
R3 0 -
R2 0 -
R1 410.75 1.80%
Price 403.48
S1 357.69 -11.35%
S2 353.72 -12.33%
S3 347.88 -13.78%

FAQ

What is the symbol for Cavco Industries Stock and on which exchange is it traded?
The symbol for Cavco Industries is CVCO and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Cavco Industries Stock?
Cavco Industries 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.

How to buy Cavco Industries Stock?
Cavco Industries Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Cavco Industries Stock.

What's the current price of Cavco Industries Stock?
As of the end of day on the Jul 22, 2024, the price of an Cavco Industries (CVCO) share was $403.48.

What is the 52-week high and low for Cavco Industries Stock?
The 52-week high for Cavco Industries Stock is $415.15 and the 52-week low is $235.95.

What is the market capitalization of Cavco Industries Stock?
As of the Jul 22, 2024, the market capitalization of Cavco Industries is 3.238B.

When is the next earnings date for Cavco Industries?
The upcoming earnings date for Cavco Industries is Aug 01, 2024.
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About Cavco Industries

Cavco Industries Cavco Industries, Inc. designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands. It also builds park model RVs; vacation cabins; and fact... CVCO Profile

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