Enviva Partners LP Stock Forecast
Enviva Partners LP stock upgraded from Strong Sell Candidate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Enviva Partners LP stock price gained 4.71% on the last trading day (Thursday, 28th Mar 2024), rising from $0.420 to $0.440. During the last trading day the stock fluctuated 6.96% from a day low at $0.430 to a day high of $0.459. The price has been going up and down for this period, and there has been a -11.25% loss for the last 2 weeks. Volume fell on the last day by -192 thousand shares and in total, 2 million shares were bought and sold for approximately $699.94 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -26.01% during the next 3 months and, with a 90% probability hold a price between $0.0972 and $0.638 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 $0.467. On a fall, the stock will find some support from the short-term average at $0.428. 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, March 06, 2024, and so far it has fallen -53.29%. 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 also not.
Support, Risk & Stop-loss for Enviva Partners LP stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.416 and $0.388. There is a 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, Enviva Partners LP finds support just below today's level at $0.416. If this is broken, then the next support from accumulated volume will be at $0.388 and $0.372.
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 $0.0299 between high and low, or 6.96%. For the last week the stock has had daily average volatility of 16.18%.
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Enviva Partners LP to open at $0.443, and during the day (based on 14 day Average True Range), to move between $0.312 and $0.568, which gives a possible trading interval of +/-$0.128 (+/-29.08%) up or down from last closing price. If Enviva Partners LP takes out the full calculated possible swing range there will be an estimated 58.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.416 (5.54%) than the resistance at $0.496 (12.68%), 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?
Enviva Partners LP holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.794 Sell Candidate Upgraded
Predicted Opening Price for Enviva Partners LP of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.443 ( 0.659%) | $0.440 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 0.473 | 7.45 % | |
R2 | 0.461 | 4.86 % | ||
R1 | 0.454 | 3.25 % | ||
Current price: | 0.440 | |||
Support | S1 | 0.432 | -1.94 % | |
S2 | 0.425 | -3.54 % | ||
S3 | 0.413 | -6.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.520 | 18.15 % | |
R2 | 0.498 | 13.22 % | ||
R1 | 0.496 | 12.68 % | ||
Current price | 0.440 | |||
Support | S1 | 0.416 | -5.54% | |
S2 | 0.388 | -11.82% | ||
S3 | 0.372 | -15.41% |
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
Click here for our free guide on how to buy Enviva Partners LP Stock.