Marine Petroleum Trust Stock Forecast
A very strong day for Marine Petroleum Trust stock price on Tuesday
(Updated on May 14, 2024)
The Marine Petroleum Trust stock price gained 6.89% on the last trading day (Tuesday, 14th May 2024), rising from $4.21 to $4.50. During the last trading day the stock fluctuated 7.18% from a day low at $4.21 to a day high of $4.51. The price has risen in 5 of the last 10 days and is up by 5.64% 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, 6 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $41.45 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.20% during the next 3 months and, with a 90% probability hold a price between $4.23 and $5.70 at the end of this 3-month period.
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MARPS Signals & Forecast
Mostly positive signals in the chart today. The Marine Petroleum Trust stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $4.21 and $4.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 11.39%. 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). Marine Petroleum Trust 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Marine Petroleum Trust stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.26 and $4.19. 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, Marine Petroleum Trust finds support just below today's level at $4.26. If this is broken, then the next support from accumulated volume will be at $4.19 and $4.10.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.302 between high and low, or 7.18%. For the last week, the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: $4.33 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MARPS) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Marine Petroleum Trust to open at $4.41, and during the day (based on 14 day Average True Range), to move between $4.27 and $4.73, which gives a possible trading interval of +/-$0.231 (+/-5.14%) up or down from last closing price. If Marine Petroleum Trust takes out the full calculated possible swing range there will be an estimated 10.29% 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 (5.33%) than the resistance at $4.82 (7.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Marine Petroleum Trust will release earnings BMO on Monday, May 20, 2024. We will update the financials statements for Marine Petroleum Trust, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.80% in the first trading day after earnings release.
Is Marine Petroleum Trust 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 Marine Petroleum Trust stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.413 Buy Candidate Upgraded
Predicted Opening Price for Marine Petroleum Trust of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $4.41 ( 2.06%) | $4.50 |
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 | 4.71 | 4.66 % | |
| R2 | 4.59 | 2.09 % | ||
| R1 | 4.52 | 0.508 % | ||
| Current price: | 4.50 | |||
| Support | S1 | 4.29 | -4.62 % | |
| S2 | 4.22 | -6.21 % | ||
| S3 | 4.11 | -8.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.39 | 19.78 % | |
| R2 | 5.38 | 19.56 % | ||
| R1 | 4.82 | 7.11 % | ||
| Current price | 4.50 | |||
| Support | S1 | 4.26 | -5.33% | |
| S2 | 4.19 | -6.89% | ||
| S3 | 4.10 | -8.89% |
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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