REV Group Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
REV Group Inc stock downgraded from Strong Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 07, 2024)
The REV Group Inc stock price gained 1.05% on the last trading day (Tuesday, 7th May 2024), rising from $23.92 to $24.17. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.14% from a day low at $23.83 to a day high of $24.34. The price has risen in 8 of the last 10 days and is up by 10.87% over the past 2 weeks. Volume fell on the last day by -609 thousand shares and in total, 497 thousand shares were bought and sold for approximately $12.01 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 26.29% during the next 3 months and, with a 90% probability hold a price between $27.52 and $31.36 at the end of this 3-month period.
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REVG Signals & Forecast
The REV Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $22.82 and $21.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 31.36%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for REV Group Inc stock
REV Group Inc finds support from accumulated volume at $23.03 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 $0.510 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 4.00%.
Since the REV Group Inc has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $23.48 (-2.84%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (REVG) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect REV Group Inc to open at $24.11, and during the day (based on 14 day Average True Range), to move between $23.36 and $24.98, which gives a possible trading interval of +/-$0.81 (+/-3.35%) up or down from last closing price. If REV Group Inc takes out the full calculated possible swing range there will be an estimated 6.71% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $23.03, some $1.14 (4.72%) from the current price of $24.17, our system finds the risk reward attractive.
Is REV Group Inc stock A Buy?
REV Group Inc 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 Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 REV Group Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $24.11 ( 0.234%) | $24.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REVG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.62 | 1.88 % | |
| R2 | 24.43 | 1.07 % | ||
| R1 | 24.31 | 0.572 % | ||
| Current price: | 24.17 | |||
| Support | S1 | 23.92 | -1.04 % | |
| S2 | 23.80 | -1.54 % | ||
| S3 | 23.60 | -2.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 24.17 | |||
| Support | S1 | 23.03 | -4.72% | |
| S2 | 18.58 | -23.13% | ||
| S3 | 18.26 | -24.45% |
REVG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0500 | 0.223% |
| 2 | Jan 29, 2024 | Feb 08, 2024 | Feb 16, 2024 | $3.00 | 15.51% |
| 3 | Dec 22, 2023 | Dec 22, 2023 | Jan 12, 2024 | $0.0500 | 0.287% |
| 4 | Sep 13, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.0500 | 0.325% |
| 5 | Jun 08, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.0500 | 0.380% |
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