Global Partners LP Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Global Partners LP stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Global Partners LP stock price fell by -0.575% on the last day (Wednesday, 24th Apr 2024) from $46.95 to $46.68. During the last trading day the stock fluctuated 2.14% from a day low at $46.25 to a day high of $47.24. The price has risen in 6 of the last 10 days and is up by 3.32% over the past 2 weeks. Volume has increased on the last day by 26 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 69 thousand shares were bought and sold for approximately $3.23 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Global Partners LP stock with a 90% probability to be traded between $43.39 and $48.34 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GLP Signals & Forecast
The Global Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $46.09 and $46.12. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -0.85%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Global Partners LP stock
Global Partners LP finds support from accumulated volume at $46.63 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.99 between high and low, or 2.14%. For the last week the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: $45.27 (-3.03%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (GLP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Global Partners LP to open at $46.72, and during the day (based on 14 day Average True Range), to move between $45.27 and $48.09, which gives a possible trading interval of +/-$1.41 (+/-3.01%) up or down from last closing price. If Global Partners LP takes out the full calculated possible swing range there will be an estimated 6.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $46.63 (0.11%) than the resistance at $46.99 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Global Partners LP stock A Buy?
Global Partners LP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.128 Hold/Accumulate Downgraded
Predicted Opening Price for Global Partners LP of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $46.72 ( 0.0928%) | $46.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.71 | 2.21 % | |
| R2 | 47.34 | 1.40 % | ||
| R1 | 47.10 | 0.90 % | ||
| Current price: | 46.68 | |||
| Support | S1 | 46.35 | -0.717 % | |
| S2 | 46.11 | -1.22 % | ||
| S3 | 45.73 | -2.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.21 | 1.14 % | |
| R2 | 47.09 | 0.88 % | ||
| R1 | 46.99 | 0.664 % | ||
| Current price | 46.68 | |||
| Support | S1 | 46.63 | -0.107% | |
| S2 | 45.81 | -1.86% | ||
| S3 | 45.70 | -2.10% |
GLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 07, 2024 | Feb 14, 2024 | $0.700 | 1.49% |
| 2 | Oct 24, 2023 | Nov 07, 2023 | Nov 14, 2023 | $0.690 | 2.08% |
| 3 | Jul 25, 2023 | Aug 07, 2023 | Aug 14, 2023 | $0.675 | 2.09% |
| 4 | Apr 25, 2023 | May 08, 2023 | May 15, 2023 | $0.655 | 2.11% |
| 5 | Jan 25, 2023 | Feb 07, 2023 | Feb 14, 2023 | $1.57 | 4.22% |
FAQ
Click here for our free guide on how to buy Global Partners LP Stock.
