Commercial Vehicle Group Stock Forecast
Commercial Vehicle Group stock downgraded from Sell Candidate to Strong Sell Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Commercial Vehicle Group stock price fell by -2.33% on the last day (Wednesday, 1st May 2024) from $6.01 to $5.87. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.11% from a day low at $5.84 to a day high of $6.08. The price has fallen in 6 of the last 10 days and is down by -6.08% for this period. Volume has increased on the last day by 23 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, 102 thousand shares were bought and sold for approximately $599.00 thousand.
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 $5.85 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.55% during the next 3 months and, with a 90% probability hold a price between $5.53 and $6.11 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 $6.11 and $6.27. 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 -9.83%. 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
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 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 $0.240 (4.11%) between high and low. For the last week, the stock has had daily average volatility of 2.89%.
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 2nd
For the upcoming trading day on Thursday, 2nd we expect Commercial Vehicle Group to open at $5.93, and during the day (based on 14 day Average True Range), to move between $5.67 and $6.07, which gives a possible trading interval of +/-$0.196 (+/-3.33%) up or down from last closing price. If Commercial Vehicle Group takes out the full calculated possible swing range there will be an estimated 6.67% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.15, some $0.280 (4.77%) from the current price of $5.87, our system finds the risk reward not very attractive.
Earnings coming up
Commercial Vehicle Group will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.180. We will update the financials statements for Commercial Vehicle Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.78% in the first trading day after earnings release.
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: -5.171 Strong Sell Candidate Downgraded
Predicted Opening Price for Commercial Vehicle Group of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $5.93 ( 1.02%) | $5.87 |
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 | 6.17 | 5.11 % | |
| R2 | 6.08 | 3.55 % | ||
| R1 | 6.02 | 2.58 % | ||
| Current price: | 5.87 | |||
| Support | S1 | 5.84 | -0.540 % | |
| S2 | 5.78 | -1.50 % | ||
| S3 | 5.69 | -3.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.38 | 8.69 % | |
| R2 | 6.20 | 5.62 % | ||
| R1 | 6.15 | 4.77 % | ||
| Current price | 5.87 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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