Kimbell Royalty Partners Representing Stock Forecast

Weaker technical forecast for Kimbell Royalty Partners Representing as stock downgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)

KRP Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.94%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kimbell Royalty Partners Representing 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 $16.46. On a fall, the stock will find some support from the short-term average at $16.18. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Kimbell Royalty Partners Representing stock

Kimbell Royalty Partners Representing finds support from accumulated volume at $16.01 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 $0.130 between high and low, or 0.800%. For the last week the stock has had daily average volatility of 1.59%.

Our recommended stop-loss: $15.37 (-5.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (KRP) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Kimbell Royalty Partners Representing Limited Partner Interests to open at $16.32, and during the day (based on 14 day Average True Range), to move between $16.02 and $16.62, which gives a possible trading interval of +/-$0.300 (+/-1.84%) up or down from last closing price. If Kimbell Royalty Partners Representing Limited Partner Interests takes out the full calculated possible swing range there will be an estimated 3.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.42 (0.61%) than the support at $16.01 (1.90%), 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 Kimbell Royalty Partners Representing Limited Partner Interests stock A Buy?

Kimbell Royalty Partners Representing 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: 0.878 Hold/Accumulate Downgraded

Predicted Opening Price for Kimbell Royalty Partners Representing Limited Partner Interests of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.