Enviva Partners LP Stock Forecast
On Wednesday, Enviva Partners LP stock price gained an impressive 5.59%
(Updated on Jul 03, 2024)
The Enviva Partners LP stock price gained 5.59% on the last trading day (Wednesday, 3rd Jul 2024), rising from $0.423 to $0.446. During the last trading day the stock fluctuated 8.43% from a day low at $0.415 to a day high of $0.450. The price has fallen in 7 of the last 10 days and is down by -6.48% for this period. Volume fell on the last day by -10 thousand shares and in total, 201 thousand shares were bought and sold for approximately $89.86 thousand. 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.418 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 12.47% during the next 3 months and, with a 90% probability hold a price between $0.470 and $0.774 at the end of this 3-month period.
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EVA Signals & Forecast
There are few to no technical positive signals at the moment. The Enviva Partners LP stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.535. On a fall, the stock will find some support from the short-term average at $0.442. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -31.11%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Enviva Partners LP stock
Enviva Partners LP finds support from accumulated volume at $0.426 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0350 between high and low, or 8.43%. For the last week the stock has had daily average volatility of 6.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EVA) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Enviva Partners LP to open at $0.437, and during the day (based on 14 day Average True Range), to move between $0.403 and $0.489, which gives a possible trading interval of +/-$0.0429 (+/-9.62%) up or down from last closing price. If Enviva Partners LP takes out the full calculated possible swing range there will be an estimated 19.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.426 (4.48%) than the resistance at $0.515 (15.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enviva Partners LP stock A Buy?
The Enviva Partners LP stock holds several negative signals and despite the positive trend, we believe Enviva Partners LP will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.603 Sell Candidate Downgraded
Predicted Opening Price for Enviva Partners LP of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $0.437 ( 2.03%) | $0.446 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.472 | 5.81% |
| R2 | 0.459 | 2.82% |
| R1 | 0.450 | 0.96% |
| Price | 0.446 | |
| S1 | 0.424 | -5.03% |
| S2 | 0.415 | -6.88% |
| S3 | 0.402 | -9.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.540 | 21.05% |
| R2 | 0.537 | 20.35% |
| R1 | 0.515 | 15.44% |
| Price | 0.446 | |
| S1 | 0.426 | -4.48% |
| S2 | 0.410 | -8.09% |
| S3 | 0.355 | -20.40% |
EVA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2023 | Feb 17, 2023 | Feb 24, 2023 | $0.91 | 2.13% |
| 2 | Nov 02, 2022 | Nov 10, 2022 | Nov 25, 2022 | $0.91 | 1.51% |
| 3 | Aug 03, 2022 | Aug 12, 2022 | Aug 26, 2022 | $0.91 | 1.26% |
| 4 | May 04, 2022 | May 13, 2022 | May 27, 2022 | $0.91 | 1.16% |
| 5 | Feb 03, 2022 | Feb 11, 2022 | Feb 25, 2022 | $0.86 | 1.23% |
FAQ
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