Commercial Vehicle Group Stock Forecast

Sell candidate since Nov 05, 2024 Loss -4.17%

The Commercial Vehicle Group stock price fell by -4.17% on the last day (Wednesday, 4th Dec 2024) from $2.40 to $2.30. During the last trading day the stock fluctuated 8.73% from a day low at $2.27 to a day high of $2.47. The price has risen in 6 of the last 10 days but is still down by -3.36% for this period. Volume has increased on the last day by 89 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 405 thousand shares were bought and sold for approximately $931.15 thousand.

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 -31.39% during the next 3 months and, with a 90% probability hold a price between $1.41 and $1.65 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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CVGI Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Commercial Vehicle Group 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 $2.40 and $2.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, November 06, 2024, and so far it has fallen -16.06%. Further fall is indicated until a new bottom pivot has been found. Commercial Vehicle Group gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Commercial Vehicle Group 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 $0.198 between high and low, or 8.73%. For the last week, the stock has had daily average volatility of 5.49%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CVGI) For The Upcoming Trading Day Of Thursday 5th

For the upcoming trading day on Thursday, 5th we expect Commercial Vehicle Group to open at $2.35, and during the day (based on 14 day Average True Range), to move between $2.14 and $2.46, which gives a possible trading interval of +/-$0.160 (+/-6.93%) up or down from last closing price. If Commercial Vehicle Group takes out the full calculated possible swing range there will be an estimated 13.87% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $2.40, some $0.100 (4.35%) from the current price of $2.30, our system finds the risk reward not very attractive.

Is Commercial Vehicle Group stock A Buy?

Commercial Vehicle Group holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.528 Strong Sell Candidate Downgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 5, 2024 - $2.35 ( 2.00%).