CrossAmerica Partners LP Stock Forecast

Stronger technical forecast for CrossAmerica Partners LP stock price after Thursday trading.
(Updated on Apr 25, 2024)

CAPL Signals & Forecast

The CrossAmerica 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 $22.70 and $22.59. A breakdown below any of these levels will issue sell signals. 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 04, 2024, and so far it has fallen -1.38%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for CrossAmerica Partners LP stock

On the downside, the stock finds support just below today's level from accumulated volume at $21.60 and $21.45. 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, CrossAmerica Partners LP finds support just below today's level at $21.60. If this is broken, then the next support from accumulated volume will be at $21.45 and $21.30.

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 $0.290 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 1.90%

Our recommended stop-loss: $21.98 (-4.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (CAPL) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect CrossAmerica Partners LP to open at $22.94, and during the day (based on 14 day Average True Range), to move between $22.45 and $23.39, which gives a possible trading interval of +/-$0.467 (+/-2.04%) up or down from last closing price. If CrossAmerica Partners LP takes out the full calculated possible swing range there will be an estimated 4.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.05 (0.57%) than the support at $21.60 (5.76%), 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 CrossAmerica Partners LP stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for CrossAmerica Partners LP stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.132 Buy Candidate Upgraded

Predicted Opening Price for CrossAmerica Partners LP of Friday, April 26, 2024

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