Cavco Industries Stock Forecast
Cavco Industries stock price up 4.41% on Tuesday
(Updated on Apr 23, 2024)
The Cavco Industries stock price gained 4.41% on the last trading day (Tuesday, 23rd Apr 2024), rising from $359.52 to $375.36. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.88% from a day low at $362.47 to a day high of $380.17. The price has fallen in 6 of the last 10 days and is down by -4.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 32 thousand more shares were traded than the day before. In total, 65 thousand shares were bought and sold for approximately $24.54 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.11% during the next 3 months and, with a 90% probability hold a price between $386.14 and $450.73 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 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 $375.66. On a fall, the stock will find some support from the short-term average at $360.12. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -5.94%. 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 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 $366.54 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 $17.70 between high and low, or 4.88%. For the last week, the stock has had daily average volatility of 3.58%.
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 24th
For the upcoming trading day on Wednesday, 24th we expect Cavco Industries to open at $372.67, and during the day (based on 14 day Average True Range), to move between $363.55 and $387.17, which gives a possible trading interval of +/-$11.81 (+/-3.15%) up or down from last closing price. If Cavco Industries takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $376.25 (0.24%) than the support at $366.54 (2.35%), 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 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: -2.209 Sell Candidate Unchanged
Predicted Opening Price for Cavco Industries of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $372.67 ( 0.718%) | $375.36 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 390.37 | 4.00 % | |
| R2 | 383.61 | 2.20 % | ||
| R1 | 379.43 | 1.08 % | ||
| Current price: | 375.36 | |||
| Support | S1 | 365.91 | -2.52 % | |
| S2 | 361.73 | -3.63 % | ||
| S3 | 354.97 | -5.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 389.26 | 3.70 % | |
| R2 | 376.98 | 0.432 % | ||
| R1 | 376.25 | 0.237 % | ||
| Current price | 375.36 | |||
| Support | S1 | 366.54 | -2.35% | |
| S2 | 353.75 | -5.76% | ||
| S3 | 331.92 | -11.57% |
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