Suburban Propane Partners LP stock price down 0.6% on Wednesday
(Updated on Dec 08, 2021)
Sell candidate since 2021-12-06 Loss -0.60% PDF
The Suburban Propane Partners LP stock price fell by -0.60% on the last day (Wednesday, 8th Dec 2021) from $14.91 to $14.82. During the day the stock fluctuated 1.42% from a day low at $14.79 to a day high of $15.00. The price has fallen in 6 of the last 10 days and is down by -1.92% for this period. 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 -326 thousand shares and in total, 301 thousand shares were bought and sold for approximately $4.46 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.94% during the next 3 months and, with a 90% probability hold a price between $13.97 and $15.42 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, November 30, 2021, and so far it has risen 2.63%. Further rise is indicated until a new top pivot has been found. 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. The Suburban Propane Partners LP stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $15.29. On a fall, the stock will find some support from the short-term average at $14.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
Suburban Propane Partners LP finds support from accumulated volume at $14.75 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 $0.21 between high and low, or 1.42%. For the last week the stock has had a daily average volatility of 2.06%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Suburban Propane Partners LP stock A Buy?
Suburban Propane Partners LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.649
Predicted Opening Price for Suburban Propane Partners LP of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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Wells Fargo & Company does not see either upside or downside right now giving SPH "Equal Weight" on their last update on May 19, 2021. The price target was changed from $18.00 to $16.00.
SPH Insider Trading
|Dec 03, 2021||Sell||5 000||Schueler Michael A||Common Units (representing limited partnership interests)|
|Dec 02, 2021||Sell||5 000||Schueler Michael A||Common Units (representing limited partnership interests)|
|Nov 16, 2021||Sell||16 261||Swift Jane||Common Units (representing limited partnership interests)|
|Nov 15, 2021||Buy||22 316||Swift Jane||Common Units (representing limited partnership interests)|
|Nov 15, 2021||Buy||31 879||Koepke Bryon L||Common Units (representing limited partnership interests)|
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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