MPLX LP Stock Forecast

MPLX LP stock price up 0.699% on Wednesday
(Updated on Apr 24, 2024)

MPLX Signals & Forecast

The MPLX LP 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 $40.71 and $40.94. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Thursday, April 04, 2024, and so far it has fallen -1.37%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for MPLX LP stock

On the downside, the stock finds support just below today's level from accumulated volume at $39.66 and $39.37. 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, MPLX LP finds support just below today's level at $39.66. If this is broken, then the next support from accumulated volume will be at $39.37 and $38.85.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.620 (1.50%) between high and low. For the last week, the stock has had daily average volatility of 1.52%.

Since the MPLX LP has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $40.19 (-3.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (MPLX) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect MPLX LP to open at $41.63, and during the day (based on 14 day Average True Range), to move between $41.19 and $42.35, which gives a possible trading interval of +/-$0.584 (+/-1.40%) up or down from last closing price. If MPLX LP takes out the full calculated possible swing range there will be an estimated 2.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $41.92 (0.36%) than the support at $39.66 (5.05%), 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 MPLX LP stock A Buy?

MPLX LP holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.461 Hold/Accumulate Unchanged

Predicted Opening Price for MPLX LP of Thursday, April 25, 2024

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