Marine Petroleum Trust Stock Forecast
Green day on Wednesday for Marine Petroleum Trust
(Updated on May 01, 2024)
The Marine Petroleum Trust stock price gained 0.82% on the last trading day (Wednesday, 1st May 2024), rising from $4.26 to $4.30. During the last trading day the stock fluctuated 2.35% from a day low at $4.25 to a day high of $4.35. The price has been going up and down for this period, and there has been a -2.61% loss for the last 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 3 thousand shares were bought and sold for approximately $14.83 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 Marine Petroleum Trust stock with a 90% probability to be traded between $4.09 and $5.51 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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MARPS Signals & Forecast
There are mixed signals in the stock today. The Marine Petroleum Trust 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 $4.36. On a fall, the stock will find some support from the short-term average at $4.25. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.76%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Marine Petroleum Trust stock
Marine Petroleum Trust finds support from accumulated volume at $4.26 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 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 $0.1000 between high and low, or 2.35%. For the last week the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $4.10 (-4.59%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (MARPS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Marine Petroleum Trust to open at $4.30, and during the day (based on 14 day Average True Range), to move between $4.01 and $4.58, which gives a possible trading interval of +/-$0.287 (+/-6.69%) up or down from last closing price. If Marine Petroleum Trust takes out the full calculated possible swing range there will be an estimated 13.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.26 (0.81%) than the resistance at $4.56 (6.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Marine Petroleum Trust stock A Buy?
Marine Petroleum Trust 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.
Current score: 0.200 Hold/Accumulate Unchanged
Predicted Opening Price for Marine Petroleum Trust of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $4.30 ( 0.0776%) | $4.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MARPS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.40 | 2.41 % | |
| R2 | 4.36 | 1.52 % | ||
| R1 | 4.34 | 0.97 % | ||
| Current price: | 4.30 | |||
| Support | S1 | 4.26 | -0.81 % | |
| S2 | 4.24 | -1.36 % | ||
| S3 | 4.20 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.82 | 12.22 % | |
| R2 | 4.75 | 10.59 % | ||
| R1 | 4.56 | 6.05 % | ||
| Current price | 4.30 | |||
| Support | S1 | 4.26 | -0.81% | |
| S2 | 4.19 | -2.44% | ||
| S3 | 4.10 | -4.54% |
MARPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 28, 2024 | Mar 28, 2024 | $0.102 | 2.47% |
| 2 | Nov 17, 2023 | Nov 29, 2023 | Dec 28, 2023 | $0.0837 | 2.10% |
| 3 | Aug 21, 2023 | Aug 30, 2023 | Sep 28, 2023 | $0.122 | 2.32% |
| 4 | May 19, 2023 | May 30, 2023 | Jun 28, 2023 | $0.110 | 2.23% |
| 5 | Feb 17, 2023 | Feb 27, 2023 | Mar 28, 2017 | $0.159 | 3.53% |
FAQ
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