COVENANT LOGISTICS GROUP INC (CVLG) Technical Analysis
NYSE:CVLG • US22284P1057
Current stock price
CVLG Technical Rating and Analysis
Overall CVLG gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CVLG is showing a nice and steady performance.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, CVLG did better than 89% of all other stocks.
- CVLG is one of the better performing stocks in the Ground Transportation industry, it outperforms 78% of 42 stocks in the same industry.
- CVLG is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month CVLG has a been trading in the 26.08 - 34.16 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
CVLG Weekly and Daily overview Charts
CVLG Setup Rating and Analysis
Although CVLG has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
CVLG Support and Resistance Analysis
19.38
We found 5 important support areas.
- A support zone ranging from 29.10 to 29.38. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @27.25 from a trend line in the daily time frame.
- Support @26.80 from a trend line in the weekly time frame.
- Support @24.60 from a horizontal line in the daily time frame.
- Support @19.58 from a trend line in the weekly time frame.
CVLG Technical Indicator Signal Analysis
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 | 89.94 | POSITIVE | CVLG has a high relative strength, it outperformed 89.94% 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) | UP | POSITIVE | The current price of CVLG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 79.65 | OVERBOUGHT | The high RSI value suggests CVLG may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.46 | POSITIVE | The MACD value suggests CVLG has a positive trend. |
| Stochastics (14,3) | 91.23 | OVERBOUGHT | The high Stochastics value suggests CVLG may be overbought. |
| Average True Range in percent/ATR (20) | 3.34 | MEDIUM VOLATILITY | The ATR as a percentage value for CVLG suggests some volalility. |
| Average Directional Index/ADX (14) | 19.61 | NEGATIVE | The low ADX value for CVLG suggests a weak or negative trend. |
CVLG Chart- and CandleStick Pattern Analysis
CVLG Technicals: Chart, Performance Metrics, Trend & Indicators
34.07
+2.88 (+9.23%)
COVENANT LOGISTICS GROUP INC / CVLG TA FAQ
Can you provide the ChartMill technical rating for COVENANT LOGISTICS GROUP INC?
ChartMill assigns a technical rating of 10 / 10 to CVLG.
What is the current trend direction of COVENANT LOGISTICS GROUP INC (CVLG) stock?
The current trend direction for COVENANT LOGISTICS GROUP INC (CVLG) is Bullish.
What is the RSI signal for CVLG stock?
COVENANT LOGISTICS GROUP INC (CVLG) has an RSI value of 79.6532. This indicates that the stock is currently overbought.
What is the short term momentum for 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 29.38. Check the full technical report for our detailed analysis of CVLG support and resistance levels.