Blueknight Energy Partners L.P. stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Dec 03, 2021)
Buy or Hold candidate since 2021-10-18 Gain 2.25% PDF
No changes to the price of Blueknight Energy Partners L.P. stock on the last trading day (Friday, 3rd Dec 2021). During the day the stock fluctuated 0% from a day low at $8.41 to a day high of $8.41. The price has fallen in 6 of the last 10 days and is down by -0.71% for this period.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.02% during the next 3 months and, with a 90% probability hold a price between $8.48 and $8.79 at the end of this 3-month period.
Signals & Forecast
The Blueknight Energy Partners L.P. stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $8.43. On a fall, the stock will find some support from the long-term average at approximately $8.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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, December 01, 2021, and so far it has fallen -1.29%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss
Blueknight Energy Partners L.P. finds support from accumulated volume at $8.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 0.92%.
Our recommended stop-loss: $8.05 (-4.26%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Is Blueknight Energy Partners L.P. stock A Buy?
Blueknight Energy 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. 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 Hold/Accumulate candidate.
Current score: 0.427
Predicted Opening Price for Blueknight Energy Partners L.P. of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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BKEPP Insider Trading
|Sep 13, 2021||Buy||5 000||Woodward D Andrew||Common units representing limited partner interests|
|Aug 13, 2021||Buy||1 188||Woodward D Andrew||Common units representing limited partner interests|
|Jul 01, 2021||Buy||10 853||Woodward D Andrew||Common units representing limited partner interests|
|Jun 02, 2021||Buy||1 000||Bradshaw Steven M||Common units representing limited partner interests|
|Jun 01, 2021||Buy||1 000||Bradshaw Steven M||Common units representing limited partner interests|
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