Star Gas Partners LP Stock Forecast
Stronger technical forecast for Star Gas Partners LP stock price after Friday trading.
(Updated on May 03, 2024)
The Star Gas Partners LP stock price gained 1.06% on the last trading day (Friday, 3rd May 2024), rising from $11.27 to $11.39. During the last trading day the stock fluctuated 2.88% from a day low at $11.11 to a day high of $11.43. The price has risen in 6 of the last 10 days and is up by 10.58% 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, 19 thousand more shares were traded than the day before. In total, 45 thousand shares were bought and sold for approximately $511.24 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $11.49 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Star Gas Partners LP stock with a 90% probability to be traded between $9.75 and $11.28 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. 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 $11.35 and $10.60. 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). Star Gas 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. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -0.96%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Wednesday, May 01, 2024 and based on theory for this formation the price should fall by -24.44% to $8.61 within 45 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Star Gas Partners LP stock
Star Gas Partners LP finds support from accumulated volume at $11.33 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.320 between high and low, or 2.88%. For the last week, the stock has had daily average volatility of 3.01%.
The Star Gas Partners LP stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $10.96 (-3.78%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SGU) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Star Gas Partners LP to open at $11.31, and during the day (based on 14 day Average True Range), to move between $11.04 and $11.74, which gives a possible trading interval of +/-$0.352 (+/-3.09%) 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 6.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.43 (0.35%) than the support at $11.33 (0.53%), 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 Star Gas 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 Star Gas Partners LP stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.939 Buy Candidate Upgraded
Predicted Opening Price for Star Gas Partners LP of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $11.31 ( 0.702%) | $11.39 |
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 | 11.63 | 2.11 % | |
| R2 | 11.51 | 1.03 % | ||
| R1 | 11.43 | 0.371 % | ||
| Current price: | 11.39 | |||
| Support | S1 | 11.19 | -1.78 % | |
| S2 | 11.11 | -2.44 % | ||
| S3 | 10.99 | -3.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.50 | 0.97 % | |
| R2 | 11.49 | 0.88 % | ||
| R1 | 11.43 | 0.351 % | ||
| Current price | 11.39 | |||
| Support | S1 | 11.33 | -0.527% | |
| S2 | 10.93 | -4.04% | ||
| S3 | 10.49 | -7.90% |
SGU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 26, 2024 | May 08, 2024 | $0.173 | 1.51% |
| 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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