CVR Energy Stock Forecast
Evaluation of CVR Energy stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The CVR Energy stock price fell by -0.356% on the last day (Wednesday, 24th Apr 2024) from $33.69 to $33.57. During the last trading day the stock fluctuated 1.94% from a day low at $32.99 to a day high of $33.63. The price has fallen in 6 of the last 10 days and is down by -4.17% 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 -200 thousand shares and in total, 570 thousand shares were bought and sold for approximately $19.12 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $32.66 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.53% during the next 3 months and, with a 90% probability hold a price between $34.14 and $39.74 at the end of this 3-month period.
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CVI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.13%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CVR Energy 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 $34.95. On a fall, the stock will find some support from the short-term average at $33.30. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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
CVR Energy finds support from accumulated volume at $33.44 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 $0.640 between high and low, or 1.94%. For the last week, the stock has had daily average volatility of 2.94%.
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 Thursday 25th
For the upcoming trading day on Thursday, 25th we expect CVR Energy Inc to open at $33.40, and during the day (based on 14 day Average True Range), to move between $32.47 and $34.67, which gives a possible trading interval of +/-$1.10 (+/-3.27%) up or down from last closing price. If CVR Energy Inc takes out the full calculated possible swing range there will be an estimated 6.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.44 (0.39%) than the resistance at $34.47 (2.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
CVR Energy will release earnings AMC on Monday, April 29, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.130. We will update the financials statements for CVR Energy, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.23% in the first trading day after earnings release.
Is CVR Energy Inc stock A Buy?
CVR Energy 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.953 Sell Candidate Downgraded
Predicted Opening Price for CVR Energy Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $33.40 ( 0.516%) | $33.57 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 34.04 | 1.39 % | |
| R2 | 33.79 | 0.662 % | ||
| R1 | 33.64 | 0.212 % | ||
| Current price: | 33.57 | |||
| Support | S1 | 33.15 | -1.24 % | |
| S2 | 33.00 | -1.69 % | ||
| S3 | 32.76 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.36 | 8.31 % | |
| R2 | 35.25 | 5.00 % | ||
| R1 | 34.47 | 2.68 % | ||
| Current price | 33.57 | |||
| Support | S1 | 33.44 | -0.387% | |
| S2 | 32.54 | -3.07% | ||
| S3 | 32.47 | -3.28% |
CVI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 01, 2024 | Mar 11, 2024 | $0.500 | 1.52% |
| 2 | Oct 30, 2023 | Nov 10, 2023 | Nov 20, 2023 | $2.00 | 6.28% |
| 3 | Oct 30, 2023 | Nov 09, 2023 | Nov 20, 2023 | $1.50 | 4.71% |
| 4 | Jul 31, 2023 | Aug 11, 2023 | Aug 21, 2023 | $1.00 | 2.90% |
| 5 | May 01, 2023 | May 12, 2023 | May 22, 2023 | $0.500 | 1.97% |
FAQ
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