$CW game plan Aug 7, 2023
CW LONG OVER 203.08, SHORT BELOW 200.76Curtiss-Wright Corporation's stock (symbol:
CW) recently gained 1.93% on August 4th, rising from $198.51 to $202.35. Throughout the day, it fluctuated between $199.06 and $203.25, with a 2.10% range. Over the past 10 days, the stock rose on 6 occasions, resulting in a 5.65% two-week increase. Trading volume decreased by 26 thousand shares, totaling 258 thousand shares traded for around $52.12 million. This lower volume at higher prices suggests potential divergence and a signal for future changes. The stock broke its short-term upward trend, indicating a stronger ascent. Key support now lies at $198.39. Fan theory suggests a resistance level at $210.33.Curtiss-Wright's stock displays positive signals from short and long-term Moving Averages, indicating a favorable outlook. A buy signal was triggered from a pivot bottom on August 2nd, resulting in a 6.79% increase so far. A potential rise is anticipated until a new top pivot is established. Some negative signals emerged, including a sell signal from the 3-month Moving Average Convergence Divergence (MACD).
Support levels are projected at $190.79 and $188.26, with inherent risk if these are breached. Despite controlled movements and good liquidity, the stock's RSI14 at 76 suggests overbought conditions. Yet, a major correction is unlikely due to the broken upward trend.
For August 7th, the stock is expected to open at $201.55, with a projected trading range of $198.68 to $206.02 based on a 14-day Average True Range. Insider activity indicates positive sentiment, with insiders buying more shares than selling. Overall, given positive signals and a strong technical position, the stock is considered an attractive choice with potential gains over the next three months.
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