Martin Midstream Partners L.P. Stock Forecast

Green day on Monday for Martin Midstream Partners L.P.
(Updated on Apr 29, 2024)

MMLP Signals & Forecast

The Martin Midstream Partners L.P. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $2.69. On a fall, the stock will find some support from the long-term average at approximately $2.61. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. The very low volume increases the risk and reduces the other technical signals issued. 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 -2.55%. 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 $0.137 between high and low, or 5.27%. For the last week, the stock has had daily average volatility of 5.40%.

Our recommended stop-loss: $2.56 (-4.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (MMLP) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Martin Midstream Partners L.P. to open at $2.67, and during the day (based on 14 day Average True Range), to move between $2.52 and $2.84, which gives a possible trading interval of +/-$0.160 (+/-5.98%) 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 11.95% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.66 (0.75%) than the resistance at $2.71 (1.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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.

Current score: 1.029 Buy Candidate Unchanged

Predicted Opening Price for Martin Midstream Partners L.P. of Tuesday, April 30, 2024

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