CVR Energy Stock Forecast
Evaluation of CVR Energy stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The CVR Energy stock price fell by -0.531% on the last day (Tuesday, 2nd Jul 2024) from $26.35 to $26.21. During the last trading day the stock fluctuated 3.02% from a day low at $26.20 to a day high of $26.99. The price has fallen in 7 of the last 10 days and is down by -3.11% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -222 thousand shares and in total, 755 thousand shares were bought and sold for approximately $19.78 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $25.62, a level that may pose a second chance to hit a runner. According to fan-theory $28.41 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CVI 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 CVR Energy 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 $26.60 and $27.74. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -4.69%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CVR Energy 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.
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 $0.790 between high and low, or 3.02%. For the last week the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect CVR Energy Inc to open at $26.47, and during the day (based on 14 day Average True Range), to move between $25.47 and $26.95, which gives a possible trading interval of +/-$0.740 (+/-2.82%) up or down from last closing price. If CVR Energy Inc takes out the full calculated possible swing range there will be an estimated 5.65% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $27.05, some $0.84 (3.20%) from the current price of $26.21, our system finds the risk reward not very attractive.
Is CVR Energy Inc stock A Buy?
CVR Energy 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: -5.061 Strong Sell Candidate Downgraded
Predicted Opening Price for CVR Energy Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $26.47 ( 0.98%) | $26.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.26 | 3.99% |
| R2 | 26.95 | 2.84% |
| R1 | 26.77 | 2.13% |
| Price | 26.21 | |
| S1 | 26.16 | -0.172% |
| S2 | 25.98 | -0.88% |
| S3 | 25.68 | -2.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.38 | 15.91% |
| R2 | 27.86 | 6.30% |
| R1 | 27.05 | 3.20% |
| Price | 26.21 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
CVI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2024 | May 10, 2024 | May 20, 2024 | $0.500 | 1.70% |
| 2 | Feb 20, 2024 | Mar 01, 2024 | Mar 11, 2024 | $0.500 | 1.52% |
| 3 | Oct 30, 2023 | Nov 10, 2023 | Nov 20, 2023 | $2.00 | 6.28% |
| 4 | Oct 30, 2023 | Nov 09, 2023 | Nov 20, 2023 | $1.50 | 4.71% |
| 5 | Jul 31, 2023 | Aug 11, 2023 | Aug 21, 2023 | $1.00 | 2.90% |
FAQ
Click here for our free guide on how to buy CVR Energy Stock.
