RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of SMLP
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Evaluation of Summit Midstream Partners LP stock downgraded after the last trading session.
(Updated on Jul 23, 2024)

Buy or Hold candidate since Jun 14, 2024 Gain 14.58% PDF

The Summit Midstream Partners LP stock price gained 0.95% on the last trading day (Tuesday, 23rd Jul 2024), rising from $36.82 to $37.17. During the last trading day the stock fluctuated 3.55% from a day low at $36.02 to a day high of $37.30. The price has risen in 6 of the last 10 days and is up by 7.96% over the past 2 weeks. Volume fell on the last day by -21 thousand shares and in total, 29 thousand shares were bought and sold for approximately $1.08 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.94% during the next 3 months and, with a 90% probability hold a price between $39.15 and $46.96 at the end of this 3-month period.

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SMLP Signals & Forecast

The Summit Midstream 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 $36.44 and $34.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 19.90%. Further rise is indicated until a new top pivot has been found. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Summit Midstream Partners LP stock

On the downside, the stock finds support just below today's level from accumulated volume at $35.10 and $34.02. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Summit Midstream Partners LP finds support just below today's level at $35.10. If this is broken, then the next support from accumulated volume will be at $34.02 and $32.29.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $1.28 between high and low, or 3.55%. For the last week the stock has had daily average volatility of 2.44%.

Our recommended stop-loss: $35.99 (-3.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 53 days ago.)

Trading Expectations (SMLP) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Summit Midstream Partners LP to open at $36.83, and during the day (based on 14 day Average True Range), to move between $35.89 and $38.45, which gives a possible trading interval of +/-$1.28 (+/-3.43%) up or down from last closing price. If Summit Midstream Partners LP takes out the full calculated possible swing range there will be an estimated 6.87% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $35.10, some $2.07 (5.57%) from the current price of $37.17, our system finds the risk reward attractive.

Is Summit Midstream Partners LP stock A Buy?

Summit Midstream 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Summit Midstream Partners LP of Wednesday, July 24, 2024

Fair opening price July 24, 2024 Current price
$36.83 ( 0.91%) $37.17

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for SMLP

Fibonacci Support & Resistance Levels

Level Price
R3 38.11 2.53%
R2 37.62 1.21%
R1 37.32 0.401%
Price 37.17
S1 36.34 -2.23%
S2 36.04 -3.04%
S3 35.55 -4.36%

Accumulated Volume Support & Resistance Levels

Level Price
R3 0 -
R2 0 -
R1 0 -
Price 37.17
S1 35.10 -5.57%
S2 34.02 -8.47%
S3 32.29 -13.13%

SMLP Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jan 29, 2020 Feb 06, 2020 Nov 10, 2020 $1.88 14.80%
2 Oct 24, 2019 Nov 06, 2019 Nov 14, 2019 $4.32 7.44%
3 Jul 26, 2019 Aug 06, 2019 Aug 14, 2019 $4.32 5.48%
4 Apr 25, 2019 May 07, 2019 May 15, 2019 $4.32 3.49%
5 Jan 25, 2019 Feb 06, 2019 Feb 14, 2019 $8.63 4.41%

FAQ

What is the symbol for Summit Midstream Partners LP Stock and on which exchange is it traded?
The symbol for Summit Midstream Partners LP is SMLP and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Summit Midstream Partners LP Stock?
Summit Midstream 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

How to buy Summit Midstream Partners LP Stock?
Summit Midstream Partners LP Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Summit Midstream Partners LP Stock.

What's the current price of Summit Midstream Partners LP Stock?
As of the end of day on the Jul 23, 2024, the price of an Summit Midstream Partners LP (SMLP) share was $37.17.

What is the 52-week high and low for Summit Midstream Partners LP Stock?
The 52-week high for Summit Midstream Partners LP Stock is $37.30 and the 52-week low is $13.00.

What is the market capitalization of Summit Midstream Partners LP Stock?
As of the Jul 23, 2024, the market capitalization of Summit Midstream Partners LP is 392.085M.

When is the next earnings date for Summit Midstream Partners LP?
The upcoming earnings date for Summit Midstream Partners LP is Aug 14, 2024.
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About Summit Midstream Partners LP

Summit Midstream Partners LP Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, compression, treating, and processing services, as well as crude oil and produced water gathering services. Its unconventional resource basins include the Utica and Point Pleasant shale formations in southeastern Ohio; the Willisto... SMLP Profile

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