Bottom fish the double bottom since it is close to double bottom, and monthly still in the up trend.
buy at 7, stop loss at 6.59
T1 8.00 (1/2);
if double bottom forms, prince go above 21ema and 12ema, get in ride with weekly trend and pattern breakout
target at 11, set stop loss at daily recent support.
( may be cautious about the descending...
Could be a good time to buy backed by strong earnings growth estimates and net profit margins. cvgi gained over 60% after latest earnings release in little time but gave up almost half those gains with the market sell off which gives us a good opportunity to get in. Double bottom formed with volume coming in on the lows. Looks like another consolidate + breakdown...
Nice little setup on cvgi with small wedge pattern after recent breakout of high and tight flag. Good momentum recently with big earnings beat. Volume is easing off a bit with three consecutive down days and hammer tagging the 10dma. Will look to enter if price goes though yeterdays high +10cent. Targeting recent highs possible 5-10%.
Watching $CVGI tomorrow because it's getting near the previous price resistance which also happens to be a half dollar mark for more conviction. Cautious though because there is not much volume on this stock..
Chart Details: CVGI might be running out of steam; however, if price action continues to increase we may see a trend change. I have two ideas about the outcome of CVGI in the upcoming months and the both look like nice profits.
After releasing a surprisingly positive earnings report $0.19 over the estimate CVGI continues to increase its value. However, is now the best time to cash in? After review, I believe that CVGI has exhausted its first run. I recommend waiting for the dip to increase upside reward and minimize risk. Possible buy in time frame could be near the last 2 weeks of July...
After review CVGI's 5 year history it is apparent that this company is trending downwards; however, with its recent gains in the last month is it wise to buy in this company? I have reviewed the dips and find that the risk reward for a buy in now is not acceptable. In fact I think this company only has another 2-3 weeks before it is prime to short.
The investors purchased a total of 643,300 shares at prices that ranged from $2.47 to $2.50. The total for the trade came to $1.5 million. The company designs, engineers, produces and sells various cab-related products and systems in North America, Europe and the Asia/Pacific regions
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