Enviva Partners LP Stock Forecast

High volatility in Enviva Partners LP stock price on Friday which ended trading at $0.355
(Updated on Apr 19, 2024)

EVA Signals & Forecast

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 Enviva Partners 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 $0.399 and $0.474. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -62.31%. Further fall is indicated until a new bottom pivot has been found. Enviva Partners LP gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

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

On the downside, the stock finds support just below today's level from accumulated volume at $0.327 and $0.324. 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, Enviva Partners LP finds support just below today's level at $0.327. If this is broken, then the next support from accumulated volume will be at $0.324 and $0.291.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0500 between high and low, or 14.08%. For the last week, the stock has had daily average volatility of 8.81%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EVA) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Enviva Partners LP to open at $0.372, and during the day (based on 14 day Average True Range), to move between $0.291 and $0.419, which gives a possible trading interval of +/-$0.0636 (+/-17.91%) up or down from last closing price. If Enviva Partners LP takes out the full calculated possible swing range there will be an estimated 35.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.372 (4.84%) than the support at $0.327 (7.91%), 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 Enviva Partners LP stock A Buy?

Enviva Partners LP holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.622 Sell Candidate Unchanged

Predicted Opening Price for Enviva Partners LP of Monday, April 22, 2024

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