Genesis Energy LP Stock Forecast
Genesis Energy LP stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Genesis Energy LP stock price gained 1.62% on the last trading day (Wednesday, 24th Apr 2024), rising from $12.31 to $12.51. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.19% from a day low at $12.21 to a day high of $12.60. The price has risen in 6 of the last 10 days and is up by 8.22% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 140 thousand more shares were traded than the day before. In total, 480 thousand shares were bought and sold for approximately $6.01 million.
Given the current short-term trend, the stock is expected to rise 3.50% during the next 3 months and, with a 90% probability hold a price between $10.83 and $12.95 at the end of this 3-month period.
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GEL Signals & Forecast
The Genesis Energy 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 $12.04 and $11.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 21.81%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Genesis Energy LP stock
Genesis Energy LP finds support from accumulated volume at $11.92 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.390 between high and low, or 3.19%. For the last week, the stock has had daily average volatility of 4.15%.
Our recommended stop-loss: $12.04 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (GEL) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Genesis Energy LP to open at $12.44, and during the day (based on 14 day Average True Range), to move between $12.09 and $12.93, which gives a possible trading interval of +/-$0.415 (+/-3.32%) up or down from last closing price. If Genesis Energy LP takes out the full calculated possible swing range there will be an estimated 6.64% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.92, some $0.590 (4.72%) from the current price of $12.51, our system finds the risk reward attractive.
Earnings coming up
Genesis Energy LP will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0200. We will update the financials statements for Genesis Energy LP, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.16% in the first trading day after earnings release.
Is Genesis Energy LP stock A Buy?
Genesis Energy LP holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.010 Strong Buy Candidate Upgraded
Predicted Opening Price for Genesis Energy LP of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $12.44 ( 0.560%) | $12.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.83 | 2.56 % | |
| R2 | 12.68 | 1.37 % | ||
| R1 | 12.59 | 0.631 % | ||
| Current price: | 12.51 | |||
| Support | S1 | 12.29 | -1.75 % | |
| S2 | 12.20 | -2.49 % | ||
| S3 | 12.05 | -3.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.51 | |||
| Support | S1 | 11.92 | -4.72% | |
| S2 | 11.80 | -5.68% | ||
| S3 | 11.18 | -10.63% |
GEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 29, 2024 | May 15, 2024 | $0.150 | 1.20% |
| 2 | Jan 10, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.150 | 1.37% |
| 3 | Oct 11, 2023 | Oct 30, 2023 | Nov 14, 2023 | $0.150 | 1.28% |
| 4 | Jul 12, 2023 | Jul 28, 2023 | Aug 14, 2023 | $0.150 | 1.60% |
| 5 | Apr 11, 2023 | Apr 27, 2023 | May 15, 2023 | $0.150 | 1.44% |
FAQ
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