NGL ENERGY PARTNERS LP Stock Forecast
NGL ENERGY PARTNERS LP stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The NGL ENERGY PARTNERS LP stock price fell by -1.67% on the last day (Thursday, 25th Apr 2024) from $5.99 to $5.89. During the last trading day the stock fluctuated 3.15% from a day low at $5.87 to a day high of $6.05. The price has fallen in 6 of the last 10 days and is down by -2.32% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -43 thousand shares and in total, 359 thousand shares were bought and sold for approximately $2.11 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NGL ENERGY PARTNERS LP stock with a 90% probability to be traded between $5.75 and $6.13 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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NGL Signals & Forecast
The NGL ENERGY PARTNERS 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 $5.81 and $5.86. 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). 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 Wednesday, April 24, 2024, and so far it has fallen -1.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Wednesday, April 10, 2024 and based on theory for this formation the price should fall by -1.31% to $5.81 within 27 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for NGL ENERGY PARTNERS LP stock
NGL ENERGY PARTNERS LP finds support from accumulated volume at $5.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.185 (3.15%) between high and low. For the last week, the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NGL) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect NGL ENERGY PARTNERS LP to open at $5.94, and during the day (based on 14 day Average True Range), to move between $5.74 and $6.04, which gives a possible trading interval of +/-$0.150 (+/-2.55%) up or down from last closing price. If NGL ENERGY PARTNERS LP takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.90 (0.17%) than the support at $5.83 (1.02%), 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 NGL ENERGY PARTNERS LP stock A Buy?
NGL ENERGY PARTNERS LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.559 Sell Candidate Downgraded
Predicted Opening Price for NGL ENERGY PARTNERS LP of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $5.94 ( 0.764%) | $5.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.12 | 3.90 % | |
| R2 | 6.05 | 2.71 % | ||
| R1 | 6.01 | 1.96 % | ||
| Current price: | 5.89 | |||
| Support | S1 | 5.86 | -0.436 % | |
| S2 | 5.82 | -1.18 % | ||
| S3 | 5.75 | -2.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.05 | 2.72 % | |
| R2 | 5.99 | 1.70 % | ||
| R1 | 5.90 | 0.170 % | ||
| Current price | 5.89 | |||
| Support | S1 | 5.83 | -1.02% | |
| S2 | 5.77 | -2.04% | ||
| S3 | 5.75 | -2.38% |
NGL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 27, 2020 | Nov 05, 2020 | Nov 13, 2020 | $0.100 | 4.02% |
| 2 | Jul 23, 2020 | Aug 05, 2020 | Aug 14, 2020 | $0.200 | 4.62% |
| 3 | Apr 28, 2020 | May 06, 2020 | May 15, 2020 | $0.200 | 4.16% |
| 4 | Jan 24, 2020 | Feb 06, 2020 | Feb 14, 2020 | $0.390 | 4.13% |
| 5 | Oct 24, 2019 | Nov 06, 2019 | Nov 14, 2019 | $0.390 | 3.96% |
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