CVD Equipment Corporation Stock Forecast
High volatility in CVD Equipment Corporation stock price on Wednesday which ended trading at $4.50
(Updated on Mar 27, 2024)
The CVD Equipment Corporation stock price fell by -5.46% on the last day (Wednesday, 27th Mar 2024) from $4.76 to $4.50. During the last trading day the stock fluctuated 10.00% from a day low at $4.50 to a day high of $4.95. The price has risen in 5 of the last 10 days but is still down by -2.17% for this period. Volume has increased on the last day by 16 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, 19 thousand shares were bought and sold for approximately $87.03 thousand.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $4.52 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CVV 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 CVD Equipment Corporation 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 $4.70 and $4.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -8.72%. Further fall is indicated until a new bottom pivot has been found. CVD Equipment Corporation 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CVD Equipment Corporation stock
CVD Equipment Corporation finds support from accumulated volume at $4.47 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 $0.450 between high and low, or 10.00%. For the last week, the stock has had daily average volatility of 5.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVV) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect CVD Equipment Corporation to open at $4.65, and during the day (based on 14 day Average True Range), to move between $4.26 and $4.74, which gives a possible trading interval of +/-$0.242 (+/-5.37%) up or down from last closing price. If CVD Equipment Corporation takes out the full calculated possible swing range there will be an estimated 10.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.47 (0.67%) than the resistance at $4.66 (3.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CVD Equipment Corporation stock A Buy?
CVD Equipment Corporation 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 Hold/Accumulate to a Sell candidate.
Current score: -3.811 Sell Candidate Downgraded
Predicted Opening Price for CVD Equipment Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$4.65 ( 3.33%) | $4.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.10 | 13.33 % | |
R2 | 4.93 | 9.51 % | ||
R1 | 4.82 | 7.15 % | ||
Current price: | 4.50 | |||
Support | S1 | 4.48 | -0.487 % | |
S2 | 4.37 | -2.85 % | ||
S3 | 4.20 | -6.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.87 | 8.22 % | |
R2 | 4.70 | 4.44 % | ||
R1 | 4.66 | 3.56 % | ||
Current price | 4.50 | |||
Support | S1 | 4.47 | -0.667% | |
S2 | 4.43 | -1.56% | ||
S3 | 0 | . |
FAQ
Click here for our free guide on how to buy CVD Equipment Corporation Stock.