CrossAmerica Partners LP Stock Forecast
Green day on Friday for CrossAmerica Partners LP stock after gaining 1.03%
(Updated on Apr 19, 2024)
The CrossAmerica Partners LP stock price gained 1.03% on the last trading day (Friday, 19th Apr 2024), rising from $22.35 to $22.58. During the last trading day the stock fluctuated 1.30% from a day low at $22.39 to a day high of $22.68. The price has been going up and down for this period, and there has been a -1.05% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately $344.03 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CrossAmerica Partners LP stock with a 90% probability to be traded between $21.00 and $23.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CAPL Signals & Forecast
The CrossAmerica Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $22.38 and $22.46. A breakdown below any of these levels will issue sell signals. CrossAmerica Partners LP has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -2.84%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CrossAmerica Partners LP stock
CrossAmerica Partners LP finds support from accumulated volume at $21.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.290 between high and low, or 1.30%. For the last week the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CAPL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect CrossAmerica Partners LP to open at $22.55, and during the day (based on 14 day Average True Range), to move between $22.12 and $23.04, which gives a possible trading interval of +/-$0.457 (+/-2.02%) up or down from last closing price. If CrossAmerica Partners LP takes out the full calculated possible swing range there will be an estimated 4.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.79 (0.93%) than the support at $21.60 (4.34%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is CrossAmerica Partners LP stock A Buy?
CrossAmerica Partners LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.278 Sell Candidate Unchanged
Predicted Opening Price for CrossAmerica Partners LP of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $22.55 ( 0.133%) | $22.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAPL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.84 | 1.15 % | |
| R2 | 22.73 | 0.661 % | ||
| R1 | 22.66 | 0.358 % | ||
| Current price: | 22.58 | |||
| Support | S1 | 22.44 | -0.623 % | |
| S2 | 22.37 | -0.93 % | ||
| S3 | 22.26 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.03 | 6.42 % | |
| R2 | 23.86 | 5.67 % | ||
| R1 | 22.79 | 0.93 % | ||
| Current price | 22.58 | |||
| Support | S1 | 21.60 | -4.34% | |
| S2 | 21.45 | -5.00% | ||
| S3 | 21.30 | -5.67% |
CAPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 22, 2024 | Feb 01, 2024 | Feb 09, 2024 | $0.525 | 2.35% |
| 2 | Oct 23, 2023 | Nov 02, 2023 | Nov 10, 2023 | $0.525 | 2.40% |
| 3 | Jul 25, 2023 | Aug 03, 2023 | Aug 11, 2023 | $0.525 | 2.63% |
| 4 | Apr 20, 2023 | May 02, 2023 | May 10, 2023 | $0.525 | 2.69% |
| 5 | Jan 19, 2023 | Feb 02, 2023 | Feb 10, 2023 | $0.525 | 2.38% |
FAQ
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