USD Partners LP Stock Forecast
High volatility in USD Partners LP stock price on Tuesday which ended trading at $0.120
(Updated on May 07, 2024)
The USD Partners LP stock price gained 8.11% on the last trading day (Tuesday, 7th May 2024), rising from $0.111 to $0.120. During the last trading day the stock fluctuated 16.22% from a day low at $0.111 to a day high of $0.129. The price has fallen in 6 of the last 10 days and is down by -14.29% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 56 thousand more shares were traded than the day before. In total, 65 thousand shares were bought and sold for approximately $7.75 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.101, a level that may pose a second chance to hit a runner. According to fan-theory $0.218 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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USDP Signals & Forecast
The USD 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 $0.118 and $0.116. A breakdown below any of these levels will issue sell signals. USD 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. The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, April 11, 2024, and so far it has fallen -17.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for USD Partners LP stock
USD Partners LP finds support from accumulated volume at $0.115 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0180 between high and low, or 16.22%. For the last week, the stock has had daily average volatility of 10.09%.
Our recommended stop-loss: $0.114 (-4.69%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (USDP) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect USD Partners LP to open at $0.120, and during the day (based on 14 day Average True Range), to move between $0.100 and $0.140, which gives a possible trading interval of +/-$0.0200 (+/-16.64%) up or down from last closing price. If USD Partners LP takes out the full calculated possible swing range there will be an estimated 33.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.120 (0.25%) than the support at $0.115 (4.17%), 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 USD Partners LP stock A Buy?
USD 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.262 Hold/Accumulate Upgraded
Predicted Opening Price for USD Partners LP of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.120 ( 0%) | $0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USDP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.138 | 15.00 % | |
| R2 | 0.131 | 9.27 % | ||
| R1 | 0.127 | 5.73 % | ||
| Current price: | 0.120 | |||
| Support | S1 | 0.113 | -5.73 % | |
| S2 | 0.109 | -9.27 % | ||
| S3 | 0.102 | -15.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.140 | 16.67 % | |
| R2 | 0.135 | 12.50 % | ||
| R1 | 0.120 | 0.250 % | ||
| Current price | 0.120 | |||
| Support | S1 | 0.115 | -4.17% | |
| S2 | 0.113 | -6.18% | ||
| S3 | 0.100 | -16.58% |
USDP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 26, 2023 | Feb 07, 2023 | Feb 17, 2023 | $0.124 | 3.43% |
| 2 | Oct 20, 2022 | Nov 01, 2022 | Nov 14, 2022 | $0.124 | 3.08% |
| 3 | Jul 20, 2022 | Aug 02, 2022 | Aug 12, 2022 | $0.124 | 2.34% |
| 4 | Apr 21, 2022 | May 03, 2022 | May 13, 2022 | $0.124 | 2.04% |
| 5 | Jan 26, 2022 | Feb 08, 2022 | Feb 18, 2022 | $0.121 | 2.02% |
FAQ
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