COVENANT LOGISTICS GROUP INC (CVLG) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:CVLG - US22284P1057 - Common Stock
Taking everything into account, CVLG scores 6 out of 10 in our technical rating. In the last year, CVLG was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
CVLG has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
17.55
2 important support areas can be observed.
- A support zone ranging from 22.59 to 22.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @17.73 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 22.85 to 23.47. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @24.38 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CVLG is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CVLG is up. |
| ChartMill Relative Strength | 26.38 | NEGATIVE | CVLG has a low relative strength, it was outperformed by 73.62% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CVLG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVLG is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of CVLG is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 60.85 | NEUTRAL | The RSI value for CVLG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests CVLG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 73.08 | NEUTRAL | The Stochastics value for CVLG is a neutral value. |
| Average True Range in percent/ATR (20) | 3.32 | MEDIUM VOLATILITY | The ATR as a percentage value for CVLG suggests some volalility. |
| Average Directional Index/ADX (14) | 32.63 | POSITIVE | The high ADX value value for CVLG suggests a strong trend. |
22.64
+0.02 (+0.09%)
COVENANT LOGISTICS GROUP INC / CVLG FAQ
Can you provide the ChartMill technical rating for COVENANT LOGISTICS GROUP INC?
ChartMill assigns a technical rating of 6 / 10 to CVLG.
Can you provide the trend direction for COVENANT LOGISTICS GROUP INC?
The current trend direction for COVENANT LOGISTICS GROUP INC (CVLG) is Bullish.
Can you provide the RSI signal for COVENANT LOGISTICS GROUP INC?
COVENANT LOGISTICS GROUP INC (CVLG) has an RSI value of 60.8474. This indicates that the stock is currently neutral.
What is the short term momentum for COVENANT LOGISTICS GROUP INC (CVLG) stock?
The short term momentum for COVENANT LOGISTICS GROUP INC (CVLG) is positive.
What is the support and resistance level for CVLG stock?
COVENANT LOGISTICS GROUP INC (CVLG) has a support level at 22.63 and a resistance level at 22.85. Check the full technical report for our detailed analysis of CVLG support and resistance levels.