CVR Refining LP(NYSE:CVRR) Upward Trend

CVR Refining LP(NYSE:CVRR) Upward Trend

CVR Refining LP(NYSE:CVRR) Upward Trend

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 8.03.

The projected upper bound is: 12.50.

The projected lower bound is: 10.18.

The projected closing price is: 11.34.



A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 9 white candles and 1 black candles for a net of 8 white candles. During the past 50 bars, there have been 29 white candles and 20 black candles for a net of 9 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 95.7419. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 20 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 90.21. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 40 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 195.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 10 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 41 period(s) ago.

Rex Takasugi – TD Profile

CVR REFINING LP closed up 2.140 at 11.250. Volume was 2,459% above average (trending) and Bollinger Bands were 122% wider than normal.

Open High Low Close Volume___
9.050 11.250 8.510 11.250 4,797,926

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 8.11 6.73 11.62
Volatility: 110 91 75
Volume: 633,577 228,020 152,044

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

CVR REFINING LP is currently 3.2% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect very strong flows of volume into CVRR.N (bullish). Our trend forecasting oscillators are currently bullish on CVRR.N and have had this outlook for the last 29 periods. Our momentum oscillator is currently indicating that CVRR.N is currently in an overbought condition.

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