Codorus Valley Bancorp Stock Forecast

Codorus Valley Bancorp stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)

CVLY Signals & Forecast

The Codorus Valley Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $21.65 and $22.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.50%. Further rise is indicated until a new top pivot has been found. 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. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Codorus Valley Bancorp stock

Codorus Valley Bancorp finds support from accumulated volume at $22.03 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.620 between high and low, or 2.80%. For the last week the stock has had daily average volatility of 2.55%.

Our recommended stop-loss: $21.37 (-4.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (CVLY) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Codorus Valley Bancorp to open at $22.42, and during the day (based on 14 day Average True Range), to move between $21.83 and $22.79, which gives a possible trading interval of +/-$0.476 (+/-2.14%) up or down from last closing price. If Codorus Valley Bancorp takes out the full calculated possible swing range there will be an estimated 4.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $22.03 (1.26%) than the resistance at $22.76 (2.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Codorus Valley Bancorp stock A Buy?

Codorus Valley Bancorp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.489 Hold/Accumulate Downgraded

Predicted Opening Price for Codorus Valley Bancorp of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.