Global Partners LP Stock Forecast
Evaluation of Global Partners LP stock downgraded after the last trading session.
(Updated on Apr 30, 2024)
The Global Partners LP stock price fell by -1.37% on the last day (Tuesday, 30th Apr 2024) from $47.54 to $46.89. During the last trading day the stock fluctuated 1.68% from a day low at $46.62 to a day high of $47.40. The price has risen in 6 of the last 10 days and is up by 2.63% over the past 2 weeks. Volume has increased on the last day by 14 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, 50 thousand shares were bought and sold for approximately $2.33 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Global Partners LP stock with a 90% probability to be traded between $43.55 and $48.69 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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GLP Signals & Forecast
The Global 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 $46.98. On a fall, the stock will find some support from the long-term average at approximately $46.10. 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 Monday, April 29, 2024, and so far it has fallen -1.37%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Global Partners LP stock
Global Partners LP finds support from accumulated volume at $46.63 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 $0.785 between high and low, or 1.68%. For the last week the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: $45.34 (-3.30%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (GLP) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Global Partners LP to open at $46.97, and during the day (based on 14 day Average True Range), to move between $45.57 and $48.21, which gives a possible trading interval of +/-$1.32 (+/-2.82%) up or down from last closing price. If Global Partners LP takes out the full calculated possible swing range there will be an estimated 5.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $46.99 (0.21%) than the support at $46.63 (0.55%), 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.
Earnings coming up
Global Partners LP will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.100. We will update the financials statements for Global Partners LP, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.56% in the first trading day after earnings release.
Is Global Partners LP stock A Buy?
Global 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.097 Hold/Accumulate Downgraded
Predicted Opening Price for Global Partners LP of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$46.97 ( 0.167%) | $46.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.75 | 1.84 % | |
R2 | 47.45 | 1.20 % | ||
R1 | 47.27 | 0.81 % | ||
Current price: | 46.89 | |||
Support | S1 | 46.67 | -0.472 % | |
S2 | 46.48 | -0.87 % | ||
S3 | 46.18 | -1.51 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.21 | 0.682 % | |
R2 | 47.09 | 0.427 % | ||
R1 | 46.99 | 0.213 % | ||
Current price | 46.89 | |||
Support | S1 | 46.63 | -0.554% | |
S2 | 45.70 | -2.54% | ||
S3 | 45.65 | -2.64% |
GLP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | May 08, 2024 | May 15, 2024 | $0.710 | 1.51% |
2 | Jan 24, 2024 | Feb 07, 2024 | Feb 14, 2024 | $0.700 | 1.49% |
3 | Oct 24, 2023 | Nov 07, 2023 | Nov 14, 2023 | $0.690 | 2.08% |
4 | Jul 25, 2023 | Aug 07, 2023 | Aug 14, 2023 | $0.675 | 2.09% |
5 | Apr 25, 2023 | May 08, 2023 | May 15, 2023 | $0.655 | 2.11% |
FAQ
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