Navios Maritime Partners LP Stock Forecast
Navios Maritime Partners LP stock price ended at $43.85 on Wednesday, after gaining 4.11%.
(Updated on Apr 24, 2024)
The Navios Maritime Partners LP stock price gained 4.11% on the last trading day (Wednesday, 24th Apr 2024), rising from $42.12 to $43.85. During the last trading day the stock fluctuated 4.34% from a day low at $42.17 to a day high of $44.00. The price has fallen in 7 of the last 10 days but is still up by 5.08% 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, 66 thousand more shares were traded than the day before. In total, 193 thousand shares were bought and sold for approximately $8.47 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.22 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 51.20% during the next 3 months and, with a 90% probability hold a price between $63.84 and $82.03 at the end of this 3-month period.
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NMM Signals & Forecast
The Navios Maritime 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 $42.19 and $42.32. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, March 12, 2024, and so far it has fallen -3.33%. 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 Navios Maritime Partners LP stock
Navios Maritime Partners LP finds support from accumulated volume at $42.50 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 $1.83 between high and low, or 4.34%. For the last week the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: $41.87 (-4.51%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (NMM) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Navios Maritime Partners LP to open at $43.34, and during the day (based on 14 day Average True Range), to move between $42.55 and $45.15, which gives a possible trading interval of +/-$1.30 (+/-2.96%) up or down from last closing price. If Navios Maritime Partners LP takes out the full calculated possible swing range there will be an estimated 5.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.30 (1.03%) than the support at $42.50 (3.08%), 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 Navios Maritime Partners LP 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 Navios Maritime Partners LP stock to perform well in the short-term.
Current score: 2.441 Buy Candidate Unchanged
Predicted Opening Price for Navios Maritime Partners LP of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $43.34 ( 1.16%) | $43.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.17 | 3.01 % | |
| R2 | 44.47 | 1.42 % | ||
| R1 | 44.04 | 0.431 % | ||
| Current price: | 43.85 | |||
| Support | S1 | 42.64 | -2.76 % | |
| S2 | 42.21 | -3.74 % | ||
| S3 | 41.51 | -5.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.36 | 3.44 % | |
| R2 | 44.66 | 1.85 % | ||
| R1 | 44.30 | 1.03 % | ||
| Current price | 43.85 | |||
| Support | S1 | 42.50 | -3.08% | |
| S2 | 40.89 | -6.75% | ||
| S3 | 36.38 | -17.04% |
NMM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Feb 09, 2024 | Feb 14, 2024 | $0.0500 | 0.162% |
| 2 | Oct 26, 2023 | Nov 06, 2023 | Nov 13, 2023 | $0.0500 | 0.231% |
| 3 | Jul 26, 2023 | Aug 07, 2023 | Aug 11, 2023 | $0.0500 | 0.211% |
| 4 | Apr 28, 2023 | May 08, 2023 | May 12, 2023 | $0.0500 | 0.219% |
| 5 | Jan 27, 2023 | Feb 09, 2023 | May 12, 2023 | $0.0500 | 0.219% |
FAQ
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