Summit Midstream 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
Stronger technical forecast for Summit Midstream Partners LP stock price after Friday trading.
(Updated on Apr 26, 2024)
The Summit Midstream Partners LP stock price gained 3.46% on the last trading day (Friday, 26th Apr 2024), rising from $28.02 to $28.99. During the last trading day the stock fluctuated 6.51% from a day low at $27.73 to a day high of $29.54. The price has fallen in 6 of the last 10 days but is still up by 2.11% over the past 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 28 thousand shares were bought and sold for approximately $798.91 thousand. 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 104.75% during the next 3 months and, with a 90% probability hold a price between $50.76 and $62.42 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 $27.99 and $25.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 63.32%. 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
Summit Midstream Partners LP finds support from accumulated volume at $28.02 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 therefore the general risk is considered very 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 $1.81 between high and low, or 6.51%. For the last week the stock has had daily average volatility of 4.46%
Our recommended stop-loss: $28.01 (-3.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (SMLP) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Summit Midstream Partners LP to open at $28.75, and during the day (based on 14 day Average True Range), to move between $27.95 and $30.03, which gives a possible trading interval of +/-$1.04 (+/-3.60%) 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 7.20% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $28.02, some $0.97 (3.35%) from the current price of $28.99, our system finds the risk reward attractive.
Earnings coming up
Summit Midstream Partners LP will release earnings BMO on Friday, May 03, 2024. We will update the financials statements for Summit Midstream Partners LP, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.40% in the first trading day after earnings release.
Is Summit Midstream Partners LP stock A Buy?
Summit Midstream Partners LP holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.841 Strong Buy Candidate Upgraded
Predicted Opening Price for Summit Midstream Partners LP of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $28.75 ( 0.82%) | $28.99 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 30.56 | 5.41 % | |
| R2 | 29.87 | 3.03 % | ||
| R1 | 29.44 | 1.56 % | ||
| Current price: | 28.99 | |||
| Support | S1 | 28.06 | -3.20 % | |
| S2 | 27.64 | -4.67 % | ||
| S3 | 26.95 | -7.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 28.99 | |||
| Support | S1 | 28.02 | -3.35% | |
| S2 | 27.60 | -4.79% | ||
| S3 | 27.00 | -6.86% |
SMLP Dividend Payout History
| # | 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
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