NGL ENERGY PARTNERS LP Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for NGL ENERGY PARTNERS LP stock after gaining 0.85%
(Updated on May 03, 2024)
The NGL ENERGY PARTNERS LP stock price gained 0.85% on the last trading day (Friday, 3rd May 2024), rising from $5.86 to $5.91. During the last trading day the stock fluctuated 1.72% from a day low at $5.83 to a day high of $5.93. The price has risen in 6 of the last 10 days and is up by 2.78% 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, 51 thousand more shares were traded than the day before. In total, 144 thousand shares were bought and sold for approximately $852.22 thousand.
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 $5.73 and $6.09 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 $5.84 and $5.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 2.60%. Further rise is indicated until a new top pivot has been found. NGL ENERGY PARTNERS LP 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 -1.64% to $5.81 within 27 trading days since signal was issued (Monday, May 06, 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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.1000 between high and low, or 1.72%. For the last week the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $5.60 (-5.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (NGL) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect NGL ENERGY PARTNERS LP to open at $5.89, and during the day (based on 14 day Average True Range), to move between $5.76 and $6.06, which gives a possible trading interval of +/-$0.148 (+/-2.50%) 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 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.96 (0.85%) than the support at $5.83 (1.35%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for NGL ENERGY PARTNERS LP stock to perform well in the short-term period.
Current score: 4.811 Buy Candidate Unchanged
Predicted Opening Price for NGL ENERGY PARTNERS LP of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.89 ( 0.338%) | $5.91 |
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 | 5.99 | 1.35 % | |
| R2 | 5.95 | 0.707 % | ||
| R1 | 5.93 | 0.308 % | ||
| Current price: | 5.91 | |||
| Support | S1 | 5.85 | -0.98 % | |
| S2 | 5.83 | -1.38 % | ||
| S3 | 5.79 | -2.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.05 | 2.37 % | |
| R2 | 5.99 | 1.35 % | ||
| R1 | 5.96 | 0.85 % | ||
| Current price | 5.91 | |||
| Support | S1 | 5.83 | -1.35% | |
| S2 | 5.77 | -2.37% | ||
| S3 | 5.75 | -2.71% |
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% |
FAQ
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