Calumet Specialty Products Partners Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Calumet Specialty Products Partners stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Calumet Specialty Products Partners stock price fell by -1.43% on the last day (Tuesday, 2nd Jul 2024) from $16.13 to $15.90. During the last trading day the stock fluctuated 2.45% from a day low at $15.90 to a day high of $16.29. The price has been going up and down for this period, and there has been a -2.21% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 thousand shares and in total, 62 thousand shares were bought and sold for approximately $992.49 thousand.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $15.72 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.84% during the next 3 months and, with a 90% probability hold a price between $16.64 and $17.87 at the end of this 3-month period.
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CLMT Signals & Forecast
There are few to no technical positive signals at the moment. The Calumet Specialty Products Partners 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 $16.09 and $15.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -3.64%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Calumet Specialty Products Partners stock
Calumet Specialty Products Partners finds support from accumulated volume at $15.64 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.390 between high and low, or 2.45%. For the last week the stock has had daily average volatility of 1.66%
Our recommended stop-loss: $15.06 (-5.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (CLMT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Calumet Specialty Products Partners to open at $16.03, and during the day (based on 14 day Average True Range), to move between $15.50 and $16.30, which gives a possible trading interval of +/-$0.399 (+/-2.51%) 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 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.97 (0.44%) than the support at $15.64 (1.64%), 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?
Calumet Specialty Products Partners holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.137 Hold/Accumulate Downgraded
Predicted Opening Price for Calumet Specialty Products Partners of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $16.03 ( 0.82%) | $15.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLMT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.42 | 3.27% |
| R2 | 16.27 | 2.33% |
| R1 | 16.18 | 1.75% |
| Price | 15.90 | |
| S1 | 15.88 | -0.119% |
| S2 | 15.79 | -0.698% |
| S3 | 15.64 | -1.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.20 | 1.89% |
| R2 | 16.13 | 1.45% |
| R1 | 15.97 | 0.440% |
| Price | 15.90 | |
| S1 | 15.64 | -1.64% |
| S2 | 15.43 | -2.96% |
| S3 | 14.98 | -5.79% |
CLMT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 19, 2016 | Jan 29, 2016 | Feb 12, 2016 | $0.685 | 5.33% |
| 2 | Oct 23, 2015 | Oct 30, 2015 | Nov 13, 2015 | $0.685 | 2.67% |
| 3 | Jul 21, 2015 | Jul 31, 2015 | Aug 14, 2015 | $0.685 | 2.60% |
| 4 | Apr 20, 2015 | May 01, 2015 | May 15, 2015 | $0.685 | 2.51% |
| 5 | Jan 23, 2015 | Jan 30, 2015 | Feb 13, 2015 | $0.685 | 2.70% |
FAQ
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