Commercial Vehicle Group Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Commercial Vehicle Group stock price ended at $6.20 on Thursday, after losing 0.88%.
(Updated on Apr 18, 2024)
The Commercial Vehicle Group stock price fell by -0.88% on the last day (Thursday, 18th Apr 2024) from $6.25 to $6.20. During the last trading day the stock fluctuated 2.59% from a day low at $6.18 to a day high of $6.34. The price has fallen in 5 of the last 10 days and is down by -2.59% for this period. Volume has increased on the last day by 42 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, 92 thousand shares were bought and sold for approximately $567.78 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 -4.89% during the next 3 months and, with a 90% probability hold a price between $5.64 and $6.23 at the end of this 3-month period.
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CVGI Signals & Forecast
There are few to no technical positive signals at the moment. 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 $6.27 and $6.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -4.84%. 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). 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
Commercial Vehicle Group finds support from accumulated volume at $6.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.160 between high and low, or 2.59%. For the last week the stock has had daily average volatility of 2.82%.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect Commercial Vehicle Group to open at $6.24, and during the day (based on 14 day Average True Range), to move between $6.00 and $6.39, which gives a possible trading interval of +/-$0.200 (+/-3.23%) up or down from last closing price. If Commercial Vehicle Group takes out the full calculated possible swing range there will be an estimated 6.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.20 (0.08%) than the support at $6.15 (0.73%), 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 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.
Current score: -3.379 Sell Candidate Unchanged
Predicted Opening Price for Commercial Vehicle Group of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $6.24 ( 0.699%) | $6.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVGI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.40 | 3.28 % | |
| R2 | 6.34 | 2.30 % | ||
| R1 | 6.30 | 1.69 % | ||
| Current price: | 6.20 | |||
| Support | S1 | 6.18 | -0.287 % | |
| S2 | 6.14 | -0.90 % | ||
| S3 | 6.08 | -1.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.38 | 2.99 % | |
| R2 | 6.32 | 2.02 % | ||
| R1 | 6.20 | 0.0807 % | ||
| Current price | 6.20 | |||
| Support | S1 | 6.15 | -0.726% | |
| S2 | 6.10 | -1.53% | ||
| S3 | 6.06 | -2.18% |
FAQ
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