Capital Product Partners L.P. Stock Forecast
Red day on Thursday for Capital Product Partners L.P. stock after losing 1.82%
(Updated on Apr 25, 2024)
The Capital Product Partners L.P. stock price fell by -1.82% on the last day (Thursday, 25th Apr 2024) from $16.50 to $16.20. During the last trading day the stock fluctuated 3.33% from a day low at $15.97 to a day high of $16.50. The price has fallen in 6 of the last 10 days and is down by -3.57% 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 -3 thousand shares and in total, 11 thousand shares were bought and sold for approximately $181.99 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $15.94 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.50% during the next 3 months and, with a 90% probability hold a price between $14.58 and $16.14 at the end of this 3-month period. 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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CPLP Signals & Forecast
There are mixed signals in the stock today. The Capital Product Partners L.P. 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 $16.70 and $17.25. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.310%. 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).
Support, Risk & Stop-loss for Capital Product Partners L.P. stock
Capital Product Partners L.P. finds support from accumulated volume at $16.15 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 controlled movements and therefore the general risk is considered 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 $0.532 between high and low, or 3.33%. For the last week the stock has had daily average volatility of 3.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPLP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Capital Product Partners L.P. to open at $16.22, and during the day (based on 14 day Average True Range), to move between $15.58 and $16.82, which gives a possible trading interval of +/-$0.620 (+/-3.83%) up or down from last closing price. If Capital Product Partners L.P. takes out the full calculated possible swing range there will be an estimated 7.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.15 (0.31%) than the resistance at $17.40 (7.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Capital Product Partners L.P. will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.330. We will update the financials statements for Capital Product Partners L.P., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.66% in the first trading day after earnings release.
Is Capital Product Partners L.P. stock A Buy?
Capital Product Partners L.P. 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: -2.818 Sell Candidate Unchanged
Predicted Opening Price for Capital Product Partners L.P. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $16.22 ( 0.140%) | $16.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.75 | 3.42 % | |
| R2 | 16.55 | 2.17 % | ||
| R1 | 16.43 | 1.39 % | ||
| Current price: | 16.20 | |||
| Support | S1 | 16.02 | -1.11 % | |
| S2 | 15.89 | -1.89 % | ||
| S3 | 15.69 | -3.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.25 | 12.65 % | |
| R2 | 17.94 | 10.74 % | ||
| R1 | 17.40 | 7.41 % | ||
| Current price | 16.20 | |||
| Support | S1 | 16.15 | -0.309% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CPLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 05, 2024 | Feb 13, 2024 | $0.150 | 0.84% |
| 2 | Oct 23, 2023 | Nov 03, 2023 | Nov 13, 2023 | $0.150 | 1.08% |
| 3 | Jul 20, 2023 | Aug 01, 2023 | Aug 08, 2023 | $0.150 | 1.03% |
| 4 | Apr 25, 2023 | May 05, 2023 | May 12, 2023 | $0.150 | 1.20% |
| 5 | Jan 26, 2023 | Feb 06, 2023 | Feb 10, 2023 | $0.150 | 1.08% |
FAQ
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