Capital Product Partners L.P. stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Nov 29, 2021)
Buy or Hold candidate since 2021-10-20 Gain 17.85% PDF
The Capital Product Partners L.P. stock price gained 0.44% on the last trading day (Monday, 29th Nov 2021), rising from $15.84 to $15.91. During the day the stock fluctuated 3.18% from a day low at $15.70 to a day high of $16.20. The price has risen in 6 of the last 10 days and is up by 8.53% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 70 thousand shares were bought and sold for approximately $1.11 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong 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 20.81% during the next 3 months and, with a 90% probability hold a price between $16.82 and $19.91 at the end of this 3-month period.
Signals & Forecast
The Capital Product 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 $15.96. On a fall, the stock will find some support from the long-term average at approximately $14.31. 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). 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 Monday, November 22, 2021, and so far it has fallen -2.39%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $14.77 and $13.53. There is 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, Capital Product Partners L.P. finds support just below today's level at $14.77. If this is broken, then the next support from accumulated volume will be at $13.53 and $12.85.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.50 between high and low, or 3.18%. For the last week the stock has had a daily average volatility of 4.25%.
Our recommended stop-loss: $15.28 (-3.99%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Is Capital Product Partners L.P. stock A Buy?
Capital Product 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: 0.482
Predicted Opening Price for Capital Product Partners L.P. of Tuesday, November 30, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 30, 2021||Current price|
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On Nov 18, 2021 "B. Riley" gave "$16.00 - $19.00" rating for CPLP. The price target was set to $16.23+1.4%.
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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