Calumet Specialty Products Partners Stock Forecast

Buy candidate since Nov 22, 2024 Gain 3.26%

The Calumet Specialty Products Partners stock price fell by -0.133% on the last day (Monday, 2nd Dec 2024) from $22.54 to $22.51. During the last trading day the stock fluctuated 4.47% from a day low at $21.83 to a day high of $22.81. The price has risen in 7 of the last 10 days and is up by 7.6% over the past 2 weeks. Volume has increased on the last day by 330 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 653 thousand shares were bought and sold for approximately $14.71 million.

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 $22.63 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 32.87% during the next 3 months and, with a 90% probability hold a price between $26.70 and $30.07 at the end of this 3-month period.

Investment opportunities can be found at any hour. So, react immediately to market-moving news and capture more market opportunities when convenient for you. You can trade over 10,000 US Stocks and ETFs, US Equity Index options, US Treasuries – and more - around the clock. Interactive Brokers’ dual market centers ensure reliable and dependable overnight trading on your timetable. (Member SIPC)

CLMT Signals & Forecast

The Calumet Specialty Products Partners 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 $22.19 and $21.23. 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). 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 Friday, November 29, 2024, and so far it has fallen -0.133%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Calumet Specialty Products Partners stock

Calumet Specialty Products Partners finds support from accumulated volume at $21.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.98 between high and low, or 4.47%. For the last week, the stock has had daily average volatility of 4.01%.

Our recommended stop-loss: $21.83 (-3.01%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (CLMT) For The Upcoming Trading Day Of Tuesday 3rd

For the upcoming trading day on Tuesday, 3rd we expect Calumet Specialty Products Partners to open at $22.38, and during the day (based on 14 day Average True Range), to move between $21.40 and $23.62, which gives a possible trading interval of +/-$1.11 (+/-4.95%) up or down from last closing price. If Calumet Specialty Products Partners takes out the full calculated possible swing range there will be an estimated 9.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.54 (0.13%) than the support at $21.87 (2.84%), 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 Calumet Specialty Products Partners 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 Calumet Specialty Products Partners stock to perform well in the short-term.

Current score: 1.633 Buy Candidate Unchanged

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

Predicted Fair Opening Price

Predicted fair opening price on December 3, 2024 - $22.38 ( 0.556%).