KNOT Offshore Partners LP Stock Forecast
KNOT Offshore Partners LP stock price ended at $8.50 on Tuesday, after losing 0.585%.
(Updated on Jul 02, 2024)
The KNOT Offshore Partners LP stock price fell by -0.585% on the last day (Tuesday, 2nd Jul 2024) from $8.55 to $8.50. During the last trading day the stock fluctuated 2.25% from a day low at $8.43 to a day high of $8.62. The price has risen in 6 of the last 10 days and is up by 19.55% over the past 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 -95 thousand shares and in total, 94 thousand shares were bought and sold for approximately $801.48 thousand.
The stock lies in the upper part of a very wide and strong 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 $8.88 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 62.93% during the next 3 months and, with a 90% probability hold a price between $11.26 and $14.47 at the end of this 3-month period.
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KNOP Signals & Forecast
The KNOT Offshore 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 $8.30 and $6.81. A breakdown below any of these levels will issue sell signals. 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 -3.08%. 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 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 KNOT Offshore Partners LP stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.07 and $7.36. 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, KNOT Offshore Partners LP finds support just below today's level at $8.07. If this is broken, then the next support from accumulated volume will be at $7.36 and $6.99.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.190 between high and low, or 2.25%. For the last week the stock has had daily average volatility of 4.93%.
Our recommended stop-loss: $8.12 (-4.46%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (KNOP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect KNOT Offshore Partners LP to open at $8.52, and during the day (based on 14 day Average True Range), to move between $8.07 and $8.93, which gives a possible trading interval of +/-$0.428 (+/-5.03%) up or down from last closing price. If KNOT Offshore Partners LP takes out the full calculated possible swing range there will be an estimated 10.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.55 (0.59%) than the support at $8.07 (5.06%), 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 KNOT Offshore Partners LP stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for KNOT Offshore Partners LP stock to perform well in the short-term.
Current score: 2.847 Buy Candidate Unchanged
Predicted Opening Price for KNOT Offshore Partners LP of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $8.52 ( 0.196%) | $8.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KNOP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.71 | 2.43% |
| R2 | 8.63 | 1.58% |
| R1 | 8.59 | 1.05% |
| Price | 8.50 | |
| S1 | 8.44 | -0.658% |
| S2 | 8.40 | -1.19% |
| S3 | 8.33 | -2.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 8.77 | 3.18% |
| R1 | 8.55 | 0.588% |
| Price | 8.50 | |
| S1 | 8.07 | -5.06% |
| S2 | 7.36 | -13.41% |
| S3 | 6.99 | -17.76% |
KNOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2024 | Apr 26, 2024 | May 09, 2024 | $0.0260 | 0.489% |
| 2 | Jan 16, 2024 | Jan 26, 2024 | Feb 08, 2024 | $0.0260 | 0.452% |
| 3 | Oct 12, 2023 | Oct 25, 2023 | Nov 09, 2023 | $0.0260 | 0.448% |
| 4 | Jul 13, 2023 | Jul 26, 2023 | Aug 10, 2023 | $0.0260 | 0.500% |
| 5 | Apr 13, 2023 | Apr 26, 2023 | May 11, 2023 | $0.0260 | 0.579% |
FAQ
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