Genesis Energy LP Stock Forecast
Green day on Monday for Genesis Energy LP
(Updated on May 06, 2024)
The Genesis Energy LP stock price gained 0.94% on the last trading day (Monday, 6th May 2024), rising from $12.77 to $12.89. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.09% from a day low at $12.71 to a day high of $13.23. The price has risen in 6 of the last 10 days and is up by 5.05% 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, 189 thousand more shares were traded than the day before. In total, 708 thousand shares were bought and sold for approximately $9.12 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $12.69, a level that may pose a second chance to hit a runner. According to fan-theory $14.39 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GEL Signals & Forecast
The Genesis Energy LP 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 $12.29 and $11.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 25.51%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Genesis Energy LP stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.80 and $11.56. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Genesis Energy LP finds support just below today's level at $11.80. If this is broken, then the next support from accumulated volume will be at $11.56 and $11.18.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.520 between high and low, or 4.09%. For the last week, the stock has had daily average volatility of 4.67%.
Our recommended stop-loss: $12.42 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (GEL) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Genesis Energy LP to open at $12.94, and during the day (based on 14 day Average True Range), to move between $12.45 and $13.33, which gives a possible trading interval of +/-$0.444 (+/-3.45%) up or down from last closing price. If Genesis Energy LP takes out the full calculated possible swing range there will be an estimated 6.89% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.80, some $1.09 (8.46%) from the current price of $12.89, our system finds the risk reward attractive.
Is Genesis Energy LP stock A Buy?
Genesis Energy LP holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.250 Strong Buy Candidate Unchanged
Predicted Opening Price for Genesis Energy LP of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $12.94 ( 0.414%) | $12.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.46 | 4.45 % | |
| R2 | 13.26 | 2.91 % | ||
| R1 | 13.14 | 1.95 % | ||
| Current price: | 12.89 | |||
| Support | S1 | 12.74 | -1.13 % | |
| S2 | 12.62 | -2.08 % | ||
| S3 | 12.42 | -3.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.89 | |||
| Support | S1 | 11.80 | -8.46% | |
| S2 | 11.56 | -10.32% | ||
| S3 | 11.18 | -13.27% |
GEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 29, 2024 | May 15, 2024 | $0.150 | 1.16% |
| 2 | Jan 10, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.150 | 1.37% |
| 3 | Oct 11, 2023 | Oct 30, 2023 | Nov 14, 2023 | $0.150 | 1.28% |
| 4 | Jul 12, 2023 | Jul 28, 2023 | Aug 14, 2023 | $0.150 | 1.60% |
| 5 | Apr 11, 2023 | Apr 27, 2023 | May 15, 2023 | $0.150 | 1.44% |
FAQ
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