Delek Logistics Partners LP Stock Forecast
Red day on Tuesday for Delek Logistics Partners LP
(Updated on Jul 02, 2024)
The Delek Logistics Partners LP stock price fell by -0.82% on the last day (Tuesday, 2nd Jul 2024) from $40.44 to $40.11. During the last trading day the stock fluctuated 1.68% from a day low at $39.98 to a day high of $40.65. The price has been going up and down for this period, and there has been a 2.77% gain 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, 50 thousand shares were bought and sold for approximately $1.99 million.
The stock lies in the upper part of a weak 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 $40.52 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.88% during the next 3 months and, with a 90% probability hold a price between $39.42 and $41.68 at the end of this 3-month period.
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DKL Signals & Forecast
The Delek Logistics Partners LP 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 $40.17. On a fall, the stock will find some support from the long-term average at approximately $39.54. 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 Friday, June 28, 2024, and so far it has fallen -0.91%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Delek Logistics Partners LP stock
Delek Logistics Partners LP finds support from accumulated volume at $39.75 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 $0.670 between high and low, or 1.68%. For the last week the stock has had daily average volatility of 1.65%.
Our recommended stop-loss: $38.34 (-4.40%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)
Trading Expectations (DKL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Delek Logistics Partners LP to open at $40.25, and during the day (based on 14 day Average True Range), to move between $39.35 and $40.87, which gives a possible trading interval of +/-$0.762 (+/-1.90%) up or down from last closing price. If Delek Logistics Partners LP takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $40.15 (0.10%) than the support at $39.75 (0.90%), 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 Delek Logistics Partners LP stock A Buy?
Delek Logistics Partners LP 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.
Current score: 0.291 Hold/Accumulate Unchanged
Predicted Opening Price for Delek Logistics Partners LP of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $40.25 ( 0.341%) | $40.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DKL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.92 | 2.01% |
| R2 | 40.66 | 1.37% |
| R1 | 40.50 | 0.98% |
| Price | 40.11 | |
| S1 | 39.99 | -0.297% |
| S2 | 39.83 | -0.692% |
| S3 | 39.58 | -1.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.22 | 0.274% |
| R2 | 40.17 | 0.150% |
| R1 | 40.15 | 0.0997% |
| Price | 40.11 | |
| S1 | 39.75 | -0.90% |
| S2 | 39.06 | -2.62% |
| S3 | 38.00 | -5.26% |
DKL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 07, 2024 | May 15, 2024 | $1.03 | 2.61% |
| 2 | Feb 20, 2024 | Feb 29, 2024 | Mar 08, 2024 | $0.245 | 0.627% |
| 3 | Jan 24, 2024 | Feb 02, 2024 | Feb 12, 2024 | $1.06 | 2.33% |
| 4 | Oct 25, 2023 | Nov 03, 2023 | Nov 13, 2023 | $1.05 | 2.15% |
| 5 | Jul 26, 2023 | Aug 04, 2023 | Aug 14, 2023 | $1.04 | 2.55% |
FAQ
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