Global Partners LP Forecast and Stock Analysis
Technical GLP stock analysis for Wednesday May 22, 2019.
|Shorts||1.03% ( 2019-04-15 )|
|Price to book||USD 1.39|
|Next Earnings Date||2019-08-12|
Global Partners LP fell by -0.70% in the last day ( Wednesday, 22nd May 2019 ) from $19.97 to $19.83 and has now fallen 4 days in a row. During day the stock fluctuated 1.68% from a day low at $19.65 to a day high of $19.98. The price has risen in 6 of the last 10 days and is up by 0.1% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -17 363 shares and in total 42 716 shares bought and sold for approximately $847 058.00.
- 30 day high of the GLP stock price was $20.25 and low was $19.19.
- 90 day high was $20.25 and low was $18.30.
- 52 week high for the Global Partners LP - $21.05 and low - $13.63.
Global Partners LP lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.23% during the next 3 months and, with 90% probability hold a price between $20.35 and $21.57 at the end of this period.
Global Partners LP holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $19.93. On a fall, the stock will find some support from the long-term average at approximately $19.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday May 17, 2019, which indicates further falls until a new bottom pivot has been found. 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.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 48 and the stock is currently not being overbought or oversold
Support & Resistance
Global Partners LP finds support from accumulated volume at $19.78.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $18.92 (-4.61%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 3 days ago.)
1.56 %Average volatility
Very Low Low Medium High Very High
Global Partners LP holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
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|GLP $19.83 ($-0.14 -0.70%)|
GLP is down $0.14 today, but where's it headed in 2019?
|Zacks Investment Research is releasing its prediction for GLP based on the 1-3 month system that more than doubles the S&P 500.
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