CPI Aerostructures, Inc Stock Forecast
Evaluation of CPI Aerostructures, Inc stock downgraded after the last trading session.
(Updated on Apr 30, 2024)
The CPI Aerostructures, Inc stock price fell by -4.00% on the last day (Tuesday, 30th Apr 2024) from $2.75 to $2.64. During the last trading day the stock fluctuated 3.81% from a day low at $2.63 to a day high of $2.73. The price has fallen in 6 of the last 10 days and is down by -2.58% 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 -73 thousand shares and in total, 28 thousand shares were bought and sold for approximately $74.98 thousand.
The stock lies in the middle of a very 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 -3.50% during the next 3 months and, with a 90% probability hold a price between $2.15 and $2.73 at the end of this 3-month period.
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CVU Signals & Forecast
The CPI Aerostructures, Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $2.70. On a fall, the stock will find some support from the long-term average at approximately $2.54. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -7.21%. 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). 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CPI Aerostructures, Inc stock
CPI Aerostructures, Inc finds support from accumulated volume at $2.60 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.100 between high and low, or 3.81%. For the last week the stock has had daily average volatility of 3.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVU) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect CPI Aerostructures, Inc to open at $2.67, and during the day (based on 14 day Average True Range), to move between $2.50 and $2.78, which gives a possible trading interval of +/-$0.144 (+/-5.47%) up or down from last closing price. If CPI Aerostructures, Inc takes out the full calculated possible swing range there will be an estimated 10.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.60 (1.52%) than the resistance at $2.71 (2.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CPI Aerostructures, Inc stock A Buy?
CPI Aerostructures, Inc 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 Buy to a Sell candidate.
Current score: -1.735 Sell Candidate Downgraded
Predicted Opening Price for CPI Aerostructures, Inc of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$2.67 ( 1.01%) | $2.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.77 | 4.81 % | |
R2 | 2.73 | 3.36 % | ||
R1 | 2.71 | 2.46 % | ||
Current price: | 2.64 | |||
Support | S1 | 2.63 | -0.437 % | |
S2 | 2.60 | -1.33 % | ||
S3 | 2.57 | -2.78 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.76 | 4.55 % | |
R2 | 2.72 | 3.03 % | ||
R1 | 2.71 | 2.65 % | ||
Current price | 2.64 | |||
Support | S1 | 2.60 | -1.52% | |
S2 | 2.60 | -1.70% | ||
S3 | 2.56 | -3.03% |
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