Enviva Partners LP Stock Forecast
Red day on Thursday for Enviva Partners LP stock after losing 2.79%
(Updated on May 02, 2024)
The Enviva Partners LP stock price fell by -2.79% on the last day (Thursday, 2nd May 2024) from $0.530 to $0.515. During the last trading day the stock fluctuated 5.92% from a day low at $0.510 to a day high of $0.540. The price has been going up and down for this period, and there has been a 30.38% 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 -122 thousand shares and in total, 358 thousand shares were bought and sold for approximately $184.43 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Enviva Partners LP stock with a 90% probability to be traded between $0.288 and $0.94 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EVA Signals & Forecast
The Enviva Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.514 and $0.436. A breakdown below any of these levels will issue sell signals. 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 Wednesday, March 06, 2024, and so far it has fallen -45.33%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Enviva Partners LP stock
Enviva Partners LP finds support from accumulated volume at $0.496 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 $0.0302 between high and low, or 5.92%. For the last week the stock has had daily average volatility of 16.62%.
Our recommended stop-loss: $0.486 (-5.66%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (EVA) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Enviva Partners LP to open at $0.522, and during the day (based on 14 day Average True Range), to move between $0.443 and $0.587, which gives a possible trading interval of +/-$0.0720 (+/-13.98%) up or down from last closing price. If Enviva Partners LP takes out the full calculated possible swing range there will be an estimated 27.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.520 (0.97%) than the support at $0.496 (3.71%), 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 Enviva Partners LP stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Enviva Partners LP stock to perform well in the short-term period.
Current score: 1.717 Buy Candidate Unchanged
Predicted Opening Price for Enviva Partners LP of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.522 ( 1.31%) | $0.515 |
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 | 0.552 | 7.17 % | |
| R2 | 0.540 | 4.93 % | ||
| R1 | 0.533 | 3.55 % | ||
| Current price: | 0.515 | |||
| Support | S1 | 0.510 | -0.93 % | |
| S2 | 0.503 | -2.32 % | ||
| S3 | 0.492 | -4.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.601 | 16.62 % | |
| R2 | 0.540 | 4.85 % | ||
| R1 | 0.520 | 0.97 % | ||
| Current price | 0.515 | |||
| Support | S1 | 0.496 | -3.71% | |
| S2 | 0.416 | -19.28% | ||
| S3 | 0.388 | -24.64% |
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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