Capital Product Partners L.P. Stock Forecast
Capital Product Partners L.P. stock price ended at $16.95 on Tuesday, after losing 1.34%.
(Updated on Jul 02, 2024)
The Capital Product Partners L.P. stock price fell by -1.34% on the last day (Tuesday, 2nd Jul 2024) from $17.18 to $16.95. During the last trading day the stock fluctuated 3.37% from a day low at $16.90 to a day high of $17.47. The price has risen in 6 of the last 10 days but is still down by -3.36% for this period. Volume has increased on the last day by 4 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, 14 thousand shares were bought and sold for approximately $245.05 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $16.83 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 5.47% during the next 3 months and, with a 90% probability hold a price between $17.75 and $19.90 at the end of this 3-month period.
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CPLP Signals & Forecast
The Capital Product Partners L.P. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.15 and $17.17. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Capital Product Partners L.P. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 1.07%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Capital Product Partners L.P. stock
Capital Product Partners L.P. finds support from accumulated volume at $16.80 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 $0.570 between high and low, or 3.37%. For the last week, the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: $16.08 (-5.15%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (CPLP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Capital Product Partners L.P. to open at $17.11, and during the day (based on 14 day Average True Range), to move between $16.29 and $17.61, which gives a possible trading interval of +/-$0.655 (+/-3.86%) up or down from last closing price. If Capital Product Partners L.P. takes out the full calculated possible swing range there will be an estimated 7.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.80 (0.88%) than the resistance at $17.30 (2.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Capital Product Partners L.P. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.218 Buy Candidate Unchanged
Predicted Opening Price for Capital Product Partners L.P. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $17.11 ( 0.92%) | $16.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPLP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.68 | 4.29% |
| R2 | 17.46 | 3.00% |
| R1 | 17.32 | 2.21% |
| Price | 16.95 | |
| S1 | 16.89 | -0.360% |
| S2 | 16.75 | -1.15% |
| S3 | 16.54 | -2.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.71 | 4.48% |
| R2 | 17.53 | 3.42% |
| R1 | 17.30 | 2.06% |
| Price | 16.95 | |
| S1 | 16.80 | -0.88% |
| S2 | 16.48 | -2.77% |
| S3 | 16.28 | -3.95% |
CPLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 06, 2024 | May 14, 2024 | $0.150 | 0.95% |
| 2 | Jan 25, 2024 | Feb 05, 2024 | Feb 13, 2024 | $0.150 | 0.84% |
| 3 | Oct 23, 2023 | Nov 03, 2023 | Nov 13, 2023 | $0.150 | 1.08% |
| 4 | Jul 20, 2023 | Aug 01, 2023 | Aug 08, 2023 | $0.150 | 1.03% |
| 5 | Apr 25, 2023 | May 05, 2023 | May 12, 2023 | $0.150 | 1.20% |
FAQ
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