CVR Energy (NYSE:CVI) crossed under its 10-day moving average of $50.57 on a volume of 173K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
CVR Energy, Inc. is an independent refiner and marketer of transportation fuels. The Company, also through a limited partnership produces ammonia and urea ammonia nitrate, or UAN, fertilizers.
CVR Energy share prices have moved between a 52-week high of $53.67 and a 52-week low of $23.05 and are now trading 116% above that low price at $49.77 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.5% while the 50-day MA has advanced 2.9%.
Potential upside of 7.7% exists for CVR Energy, based on a current level of $49.77 and analysts' average consensus price target of $53.58. The stock should find initial support at its 50-day moving average (MA) of $45.66 and further support at its 200-day MA of $34.33.