Martin Midstream Partners L.P. Stock Forecast
Volatile ride for Martin Midstream Partners L.P. stock price on Friday moving between $2.45 and $2.74
(Updated on Apr 19, 2024)
The Martin Midstream Partners L.P. stock price gained 1.88% on the last trading day (Friday, 19th Apr 2024), rising from $2.66 to $2.71. During the last trading day the stock fluctuated 11.83% from a day low at $2.45 to a day high of $2.74. The price has fallen in 5 of the last 10 days but is still up by 1.88% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 49 thousand shares were bought and sold for approximately $132.79 thousand.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may 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 $2.76 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.01% during the next 3 months and, with a 90% probability hold a price between $3.00 and $3.33 at the end of this 3-month period.
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MMLP Signals & Forecast
The Martin Midstream Partners L.P. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $2.62 and $2.58. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Martin Midstream 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. 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 Wednesday, April 17, 2024, and so far it has fallen -1.09%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Martin Midstream Partners L.P. stock
Martin Midstream Partners L.P. finds support from accumulated volume at $2.66 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 $0.290 (11.83%) between high and low. For the last week, the stock has had daily average volatility of 9.14%.
Our recommended stop-loss: $2.60 (-4.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MMLP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Martin Midstream Partners L.P. to open at $2.63, and during the day (based on 14 day Average True Range), to move between $2.55 and $2.87, which gives a possible trading interval of +/-$0.157 (+/-5.79%) up or down from last closing price. If Martin Midstream Partners L.P. takes out the full calculated possible swing range there will be an estimated 11.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.74 (1.11%) than the support at $2.66 (1.85%), 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 Martin Midstream Partners L.P. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Martin Midstream Partners L.P. stock to perform well in the short-term.
Current score: 3.951 Buy Candidate Unchanged
Predicted Opening Price for Martin Midstream Partners L.P. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $2.63 ( 2.83%) | $2.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.92 | 7.86 % | |
| R2 | 2.81 | 3.78 % | ||
| R1 | 2.74 | 1.26 % | ||
| Current price: | 2.71 | |||
| Support | S1 | 2.52 | -6.91 % | |
| S2 | 2.45 | -9.44 % | ||
| S3 | 2.34 | -13.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 2.74 | 1.11 % | ||
| Current price | 2.71 | |||
| Support | S1 | 2.66 | -1.85% | |
| S2 | 2.65 | -2.21% | ||
| S3 | 2.58 | -4.80% |
MMLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 23, 2024 | Feb 06, 2024 | Feb 14, 2024 | $0.0050 | 0.228% |
| 2 | Oct 18, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.0100 | 0.394% |
| 3 | Jul 19, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.0050 | 0.179% |
| 4 | Apr 19, 2023 | May 05, 2023 | Aug 14, 2023 | $0.0050 | 0.179% |
| 5 | Jan 23, 2023 | Feb 06, 2023 | May 15, 2023 | $0.0050 | 0.217% |
FAQ
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