Capital Product Partners L.P. Stock Forecast
Capital Product Partners L.P. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The Capital Product Partners L.P. stock price gained 2.78% on the last trading day (Friday, 26th Apr 2024), rising from $16.20 to $16.65. During the last trading day the stock fluctuated 2.71% from a day low at $16.21 to a day high of $16.65. The price has been going up and down for this period, and there has been a 1.03% gain 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, 6 thousand more shares were traded than the day before. In total, 17 thousand shares were bought and sold for approximately $291.33 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.59% during the next 3 months and, with a 90% probability hold a price between $14.54 and $16.09 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CPLP Signals & Forecast
There are mixed signals in the stock today. The Capital Product Partners L.P. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.69 and $17.23. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 3.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Capital Product Partners L.P. 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.
Support, Risk & Stop-loss for Capital Product Partners L.P. stock
Capital Product Partners L.P. finds support from accumulated volume at $16.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.440 (2.71%) between high and low. For the last week, the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: $15.75 (-5.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (CPLP) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Capital Product Partners L.P. to open at $16.50, and during the day (based on 14 day Average True Range), to move between $16.04 and $17.26, which gives a possible trading interval of +/-$0.608 (+/-3.65%) up or down from last closing price. If Capital Product Partners L.P. takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.62 (0.18%) than the resistance at $17.40 (4.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Capital Product Partners L.P. will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.310. We will update the financials statements for Capital Product Partners L.P., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.66% in the first trading day after earnings release.
Is Capital Product Partners L.P. stock A Buy?
Capital Product Partners L.P. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.241 Hold/Accumulate Upgraded
Predicted Opening Price for Capital Product Partners L.P. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $16.50 ( 0.88%) | $16.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.94 | 1.76 % | |
| R2 | 16.78 | 0.752 % | ||
| R1 | 16.67 | 0.129 % | ||
| Current price: | 16.65 | |||
| Support | S1 | 16.34 | -1.89 % | |
| S2 | 16.23 | -2.51 % | ||
| S3 | 16.06 | -3.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.94 | 7.75 % | |
| R2 | 17.89 | 7.42 % | ||
| R1 | 17.40 | 4.50 % | ||
| Current price | 16.65 | |||
| Support | S1 | 16.62 | -0.180% | |
| S2 | 16.50 | -0.90% | ||
| S3 | 16.48 | -1.02% |
CPLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 05, 2024 | Feb 13, 2024 | $0.150 | 0.84% |
| 2 | Oct 23, 2023 | Nov 03, 2023 | Nov 13, 2023 | $0.150 | 1.08% |
| 3 | Jul 20, 2023 | Aug 01, 2023 | Aug 08, 2023 | $0.150 | 1.03% |
| 4 | Apr 25, 2023 | May 05, 2023 | May 12, 2023 | $0.150 | 1.20% |
| 5 | Jan 26, 2023 | Feb 06, 2023 | Feb 10, 2023 | $0.150 | 1.08% |
FAQ
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