Plains All American Pipeline LP Stock Forecast

Plains All American Pipeline LP stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)

PAA Signals & Forecast

There are few to no technical positive signals at the moment. The Plains All American Pipeline LP stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $17.91 and $17.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -8.74%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, February 09, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Plains All American Pipeline LP stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.49 and $15.40. 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, Plains All American Pipeline LP finds support just below today's level at $15.49. If this is broken, then the next support from accumulated volume will be at $15.40 and $15.35.

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 $0.490 (2.85%) between high and low. For the last week, the stock has had daily average volatility of 1.80%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PAA) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Plains All American Pipeline LP to open at $17.38, and during the day (based on 14 day Average True Range), to move between $16.87 and $17.59, which gives a possible trading interval of +/-$0.365 (+/-2.12%) up or down from last closing price. If Plains All American Pipeline LP takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.26 (0.17%) than the support at $15.49 (10.10%), 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 Plains All American Pipeline LP stock A Buy?

The Plains All American Pipeline LP stock holds several negative signals and despite the positive trend, we believe Plains All American Pipeline LP will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -4.500 Sell Candidate Downgraded

Predicted Opening Price for Plains All American Pipeline LP of Wednesday, May 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.