KNOT Offshore Partners LP Stock Forecast
Green day on Thursday for KNOT Offshore Partners LP stock after gaining 3.24%
(Updated on May 02, 2024)
The KNOT Offshore Partners LP stock price gained 3.24% on the last trading day (Thursday, 2nd May 2024), rising from $5.24 to $5.41. During the last trading day the stock fluctuated 6.54% from a day low at $5.20 to a day high of $5.54. The price has fallen in 6 of the last 10 days but is still up by 7.77% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 79 thousand more shares were traded than the day before. In total, 118 thousand shares were bought and sold for approximately $636.18 thousand.
The stock lies the upper part of a wide and falling 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 $5.49 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.58% during the next 3 months and, with a 90% probability hold a price between $4.35 and $4.91 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KNOP Signals & Forecast
Mostly positive signals in the chart today. 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 $5.21 and $5.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 8.63%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). KNOT Offshore Partners LP has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for KNOT Offshore Partners LP stock
KNOT Offshore Partners LP finds support from accumulated volume at $5.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.340 (6.54%) between high and low. For the last week, the stock has had daily average volatility of 4.40%.
Our recommended stop-loss: $5.18 (-4.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (KNOP) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect KNOT Offshore Partners LP to open at $5.38, and during the day (based on 14 day Average True Range), to move between $5.21 and $5.61, which gives a possible trading interval of +/-$0.195 (+/-3.61%) 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 7.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.35 (1.11%) than the resistance at $5.50 (1.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is KNOT Offshore Partners LP stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.570 Buy Candidate Unchanged
Predicted Opening Price for KNOT Offshore Partners LP of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $5.38 ( 0.493%) | $5.41 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 5.72 | 5.79 % | |
| R2 | 5.59 | 3.39 % | ||
| R1 | 5.51 | 1.91 % | ||
| Current price: | 5.41 | |||
| Support | S1 | 5.25 | -2.89 % | |
| S2 | 5.17 | -4.38 % | ||
| S3 | 5.04 | -6.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.99 | 10.72 % | |
| R2 | 5.74 | 6.10 % | ||
| R1 | 5.50 | 1.66 % | ||
| Current price | 5.41 | |||
| Support | S1 | 5.35 | -1.11% | |
| S2 | 5.24 | -3.14% | ||
| S3 | 4.99 | -7.76% |
KNOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2024 | Apr 26, 2024 | May 09, 2024 | $0.0260 | 0.481% |
| 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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