Chicago Rivet & Machine Company Stock Forecast
Red day on Wednesday for Chicago Rivet & Machine Company stock after losing 3.06%
(Updated on Apr 24, 2024)
The Chicago Rivet & Machine Company stock price fell by -3.06% on the last day (Wednesday, 24th Apr 2024) from $16.19 to $15.69. During the last trading day the stock fluctuated 0% from a day low at $15.69 to a day high of $15.69. The price has been going up and down for this period, and there has been a 1.69% gain for the last 2 weeks. Volume has increased on the last day by 346 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, 346 shares were bought and sold for approximately $5.43 thousand.
The stock lies in the middle of a 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 -4.18% during the next 3 months and, with a 90% probability hold a price between $13.61 and $16.50 at the end of this 3-month period.
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CVR Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 1.69%. 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 Chicago Rivet & Machine Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $15.94 and $15.78. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Chicago Rivet & Machine Company 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.
A buy signal from a double bottom formation was found on Wednesday, March 13, 2024 and based on theory for this formation the price should go up by 3.00% to $16.16 within 17 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Chicago Rivet & Machine Company stock
Chicago Rivet & Machine Company finds support from accumulated volume at $15.50 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
Our recommended stop-loss: $14.94 (-4.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (CVR) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Chicago Rivet & Machine Company to open at $15.69, and during the day (based on 14 day Average True Range), to move between $15.35 and $16.03, which gives a possible trading interval of +/-$0.343 (+/-2.19%) up or down from last closing price. If Chicago Rivet & Machine Company takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.50 (1.21%) than the resistance at $16.00 (1.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chicago Rivet & Machine Company stock A Buy?
Chicago Rivet & Machine Company holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Chicago Rivet & Machine Company of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $15.69 ( 0%) | $15.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.69 | . | |
| R2 | 15.69 | . | ||
| R1 | 15.69 | . | ||
| Current price: | 15.69 | |||
| Support | S1 | 15.69 | . | |
| S2 | 15.69 | . | ||
| S3 | 15.69 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.05 | 8.67 % | |
| R2 | 16.30 | 3.89 % | ||
| R1 | 16.00 | 1.98 % | ||
| Current price | 15.69 | |||
| Support | S1 | 15.50 | -1.21% | |
| S2 | 15.25 | -2.80% | ||
| S3 | 14.80 | -5.67% |
CVR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 19, 2024 | Mar 04, 2024 | Mar 20, 2024 | $0.100 | 0.661% |
| 2 | Dec 04, 2023 | Dec 04, 2023 | Dec 20, 2023 | $0.100 | 0.574% |
| 3 | Aug 21, 2023 | Sep 01, 2023 | Sep 20, 2023 | $0.100 | 0.542% |
| 4 | May 09, 2023 | Jun 02, 2023 | Jun 20, 2023 | $0.220 | 0.81% |
| 5 | Feb 20, 2023 | Mar 02, 2023 | Mar 20, 2023 | $0.220 | 0.746% |
FAQ
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