Steel Partners Holdings LP Stock Forecast
Steel Partners Holdings LP stock price up 0.325% on Thursday
(Updated on May 02, 2024)
The Steel Partners Holdings LP stock price gained 0.325% on the last trading day (Thursday, 2nd May 2024), rising from $35.38 to $35.49. During the last trading day the stock fluctuated 0.0282% from a day low at $35.49 to a day high of $35.50. The price has fallen in 5 of the last 10 days and is down by -5.21% for this period. Volume fell on the last day by -3 thousand shares and in total, 878 shares were bought and sold for approximately $31.16 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $35.38 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Steel Partners Holdings LP stock with a 90% probability to be traded between $35.49 and $40.19 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.
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SPLP Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.325%. 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. The Steel Partners Holdings LP stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $36.08 and $38.11. A break-up above any of these levels will issue buy signals. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Steel Partners Holdings LP stock
Steel Partners Holdings LP finds support from accumulated volume at $35.38 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 $0.0100 between high and low, or 0.0282%. For the last week the stock has had daily average volatility of 1.54%.
Steel Partners Holdings LP is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $33.27 (-6.26%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 6 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SPLP) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Steel Partners Holdings LP to open at $35.49, and during the day (based on 14 day Average True Range), to move between $34.81 and $36.17, which gives a possible trading interval of +/-$0.678 (+/-1.91%) up or down from last closing price. If Steel Partners Holdings LP takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $35.38 (0.32%) than the resistance at $36.50 (2.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Steel Partners Holdings LP stock A Buy?
Steel Partners Holdings LP holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.399 Hold/Accumulate Unchanged
Predicted Opening Price for Steel Partners Holdings LP of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $35.49 ( 0.0094%) | $35.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.50 | 0.0376 % | |
| R2 | 35.50 | 0.0268 % | ||
| R1 | 35.50 | 0.0202 % | ||
| Current price: | 35.49 | |||
| Support | S1 | 35.49 | -0.0014 % | |
| S2 | 35.49 | -0.0080 % | ||
| S3 | 35.48 | -0.0188 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.00 | 12.71 % | |
| R2 | 39.90 | 12.43 % | ||
| R1 | 36.50 | 2.85 % | ||
| Current price | 35.49 | |||
| Support | S1 | 35.38 | -0.324% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SPLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2016 | Dec 29, 2016 | Jun 15, 2018 | $0.150 | 0.88% |
FAQ
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