Suburban Propane Partners LP Stock Forecast
Suburban Propane Partners LP stock upgraded from Strong Sell Candidate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Suburban Propane Partners LP stock price gained 0.608% on the last trading day (Tuesday, 7th May 2024), rising from $19.75 to $19.87. During the last trading day the stock fluctuated 2.05% from a day low at $19.52 to a day high of $19.92. The price has been going up and down for this period, and there has been a 1.69% 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, 9 thousand more shares were traded than the day before. In total, 166 thousand shares were bought and sold for approximately $3.30 million.
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 -3.04% during the next 3 months and, with a 90% probability hold a price between $17.68 and $20.25 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SPH Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Suburban Propane Partners LP stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $20.02. On a fall, the stock will find some support from the short-term average at $19.84. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.54%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Suburban Propane Partners LP stock
Suburban Propane Partners LP finds support from accumulated volume at $19.85 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 $0.400 (2.05%) between high and low. For the last week, the stock has had daily average volatility of 2.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPH) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Suburban Propane Partners LP to open at $19.77, and during the day (based on 14 day Average True Range), to move between $19.34 and $20.40, which gives a possible trading interval of +/-$0.528 (+/-2.66%) up or down from last closing price. If Suburban Propane Partners LP takes out the full calculated possible swing range there will be an estimated 5.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.85 (0.10%) than the resistance at $20.41 (2.72%), 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
Suburban Propane Partners LP will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.89. We will update the financials statements for Suburban Propane Partners LP, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.73% in the first trading day after earnings release.
Is Suburban Propane Partners LP stock A Buy?
Suburban Propane Partners LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.067 Sell Candidate Upgraded
Predicted Opening Price for Suburban Propane Partners LP of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $19.77 ( 0.503%) | $19.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.17 | 1.51 % | |
| R2 | 20.02 | 0.741 % | ||
| R1 | 19.92 | 0.266 % | ||
| Current price: | 19.87 | |||
| Support | S1 | 19.62 | -1.27 % | |
| S2 | 19.52 | -1.75 % | ||
| S3 | 19.37 | -2.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.07 | 6.04 % | |
| R2 | 20.73 | 4.33 % | ||
| R1 | 20.41 | 2.72 % | ||
| Current price | 19.87 | |||
| Support | S1 | 19.85 | -0.101% | |
| S2 | 19.84 | -0.151% | ||
| S3 | 19.41 | -2.32% |
SPH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 06, 2024 | May 14, 2024 | $0.325 | 1.64% |
| 2 | Feb 05, 2024 | Feb 05, 2024 | Feb 13, 2024 | $0.325 | 1.72% |
| 3 | Oct 26, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.330 | 1.95% |
| 4 | Jul 20, 2023 | Jul 31, 2023 | Aug 08, 2023 | $0.325 | 2.20% |
| 5 | Apr 20, 2023 | May 01, 2023 | Aug 08, 2023 | $0.325 | 2.20% |
FAQ
Click here for our free guide on how to buy Suburban Propane Partners LP Stock.
