HEP - Holly Energy Partners LP Fri 13'th Jan 2017
Strong Buy Candidate
Stock analysis for Fri 13'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-11
Holly Energy Partners LP Stock Analysis
Holly Energy Partners LP gained 1.46% in the last trading day rising from, USD 34.29 to USD 34.79. The price has risen in 8 of the last 10 days days and is up by 9.37% over the past 2 weeks. Volume fell in the last day by -8 071 shares and ,in total, 74 134 shares bought and sold for approximately USD 2.58 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Holly Energy Partners LP lays in the upper part of a weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at USD 34.81 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 6.0% during the next 3 months and, with 90% probability will hold a price between USD 33.05 and USD 36.89 at the end of this period.
Only positive signals in the chart today. Holly Energy Partners LP holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 33.95 and USD 32.83. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday December 29, 2016, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
The stock holds a RSI14 at 72 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Holly Energy Partners LP finds support from accumulated volume at USD 33.70, USD 33.09, and USD 30.55. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day the stock moved USD 0.69 between high and low, and this equals 2.02%. For the last week, the stock has had a daily average volatility of 3.23%.
The stock is overbought on RSI14 and lays in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trendposition increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: USD 33.14 (-4.74%) ( criteria: risk and position in trend)
Holly Energy Partners LP holds several positive signals and are within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.