Star Gas Partners LP Stock Forecast
Red day on Wednesday for Star Gas Partners LP stock after losing 0.88%
(Updated on Apr 24, 2024)
The Star Gas Partners LP stock price fell by -0.88% on the last day (Wednesday, 24th Apr 2024) from $11.33 to $11.23. During the last trading day the stock fluctuated 2.26% from a day low at $11.08 to a day high of $11.33. The price has been going up and down for this period, and there has been a 7.67% gain for the last 2 weeks. 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 -54 thousand shares and in total, 48 thousand shares were bought and sold for approximately $534.34 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $11.31 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.22% during the next 3 months and, with a 90% probability hold a price between $8.93 and $10.38 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SGU Signals & Forecast
The Star Gas Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $10.53 and $10.52. 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 Tuesday, April 23, 2024, and so far it has fallen -0.88%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Star Gas Partners LP stock
Star Gas Partners LP finds support from accumulated volume at $10.93 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.250 between high and low, or 2.26%. For the last week the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: $10.78 (-4.02%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SGU) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Star Gas Partners LP to open at $11.21, and during the day (based on 14 day Average True Range), to move between $10.86 and $11.60, which gives a possible trading interval of +/-$0.365 (+/-3.25%) up or down from last closing price. If Star Gas Partners LP takes out the full calculated possible swing range there will be an estimated 6.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.33 (0.89%) than the support at $10.93 (2.67%), 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.
Earnings coming up
Star Gas Partners LP will release earnings BMO on Wednesday, May 01, 2024. We will update the financials statements for Star Gas Partners LP, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.81% in the first trading day after earnings release.
Is Star Gas Partners LP stock A Buy?
Star Gas Partners LP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.642 Hold/Accumulate Unchanged
Predicted Opening Price for Star Gas Partners LP of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $11.21 ( 0.148%) | $11.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.46 | 2.08 % | |
| R2 | 11.37 | 1.23 % | ||
| R1 | 11.31 | 0.702 % | ||
| Current price: | 11.23 | |||
| Support | S1 | 11.12 | -1.00 % | |
| S2 | 11.06 | -1.52 % | ||
| S3 | 10.96 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.50 | 2.40 % | |
| R2 | 11.35 | 1.07 % | ||
| R1 | 11.33 | 0.89 % | ||
| Current price | 11.23 | |||
| Support | S1 | 10.93 | -2.67% | |
| S2 | 10.49 | -6.59% | ||
| S3 | 10.13 | -9.80% |
SGU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 26, 2024 | May 08, 2024 | $0.173 | 1.53% |
| 2 | Jan 11, 2024 | Jan 19, 2024 | Jan 31, 2024 | $0.163 | 1.44% |
| 3 | Oct 10, 2023 | Oct 19, 2023 | Oct 30, 2023 | $0.163 | 1.40% |
| 4 | Jul 13, 2023 | Jul 21, 2023 | Jul 31, 2023 | $0.163 | 1.20% |
| 5 | Apr 13, 2023 | Apr 21, 2023 | May 02, 2023 | $0.163 | 1.20% |
FAQ
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