Martin Midstream Partners L.P. Stock Forecast
Martin Midstream Partners L.P. stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The Martin Midstream Partners L.P. stock price gained 5.00% on the last trading day (Wednesday, 24th Apr 2024), rising from $2.60 to $2.73. During the last trading day the stock fluctuated 9.60% from a day low at $2.50 to a day high of $2.74. The price has risen in 6 of the last 10 days and is up by 8.33% 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, 10 thousand more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately $103.86 thousand.
The stock lies in the upper part of a 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 $2.77 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 22.05% during the next 3 months and, with a 90% probability hold a price between $3.08 and $3.38 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MMLP Signals & Forecast
The Martin Midstream Partners L.P. 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 $2.69 and $2.61. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Martin Midstream Partners L.P. 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. 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 Monday, April 22, 2024, and so far it has fallen -0.727%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Martin Midstream Partners L.P. stock
Martin Midstream Partners L.P. finds support from accumulated volume at $2.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.240 between high and low, or 9.60%. For the last week, the stock has had daily average volatility of 9.79%.
Our recommended stop-loss: $2.62 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MMLP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Martin Midstream Partners L.P. to open at $2.66, and during the day (based on 14 day Average True Range), to move between $2.56 and $2.90, which gives a possible trading interval of +/-$0.169 (+/-6.20%) up or down from last closing price. If Martin Midstream Partners L.P. takes out the full calculated possible swing range there will be an estimated 12.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.74 (0.37%) than the support at $2.66 (2.56%), 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 Martin Midstream Partners L.P. 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 Martin Midstream Partners L.P. 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: 3.082 Buy Candidate Upgraded
Predicted Opening Price for Martin Midstream Partners L.P. of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$2.66 ( 2.68%) | $2.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMLP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.90 | 6.10 % | |
R2 | 2.80 | 2.75 % | ||
R1 | 2.75 | 0.672 % | ||
Current price: | 2.73 | |||
Support | S1 | 2.57 | -6.04 % | |
S2 | 2.51 | -8.12 % | ||
S3 | 2.42 | -11.47 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 2.75 | 0.733 % | ||
R1 | 2.74 | 0.366 % | ||
Current price | 2.73 | |||
Support | S1 | 2.66 | -2.56% | |
S2 | 2.65 | -2.93% | ||
S3 | 2.60 | -4.76% |
MMLP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 07, 2024 | May 07, 2024 | May 15, 2024 | $0.0050 | 0.186% |
2 | Jan 23, 2024 | Feb 06, 2024 | Feb 14, 2024 | $0.0050 | 0.228% |
3 | Oct 18, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.0100 | 0.394% |
4 | Jul 19, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.0050 | 0.179% |
5 | Apr 19, 2023 | May 05, 2023 | Aug 14, 2023 | $0.0050 | 0.179% |
FAQ
Click here for our free guide on how to buy Martin Midstream Partners L.P. Stock.