Global Partners LP Stock Forecast
Global Partners LP stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
The Global Partners LP stock price gained 0.264% on the last trading day (Thursday, 18th Apr 2024), rising from $45.41 to $45.53. During the last trading day the stock fluctuated 2.35% from a day low at $44.87 to a day high of $45.92. The price has fallen in 6 of the last 10 days but is still up by 0.07% over the past 2 weeks. Volume fell on the last day by -27 thousand shares and in total, 35 thousand shares were bought and sold for approximately $1.58 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $44.08 and $49.15 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.
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GLP Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 2.59%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Global 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 $45.74 and $46.16. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Global Partners LP stock
Global Partners LP finds support from accumulated volume at $44.62 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 $1.06 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 3.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLP) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Global Partners LP to open at $45.44, and during the day (based on 14 day Average True Range), to move between $44.04 and $47.02, which gives a possible trading interval of +/-$1.49 (+/-3.28%) up or down from last closing price. If Global Partners LP takes out the full calculated possible swing range there will be an estimated 6.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $45.70 (0.37%) than the support at $44.62 (2.00%), 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 Global Partners LP stock A Buy?
Global Partners LP holds several negative signals and is within a 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. 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 Sell candidate.
Current score: -1.121 Sell Candidate Downgraded
Predicted Opening Price for Global Partners LP of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $45.44 ( 0.201%) | $45.53 |
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 | 46.49 | 2.12 % | |
| R2 | 46.09 | 1.23 % | ||
| R1 | 45.84 | 0.684 % | ||
| Current price: | 45.53 | |||
| Support | S1 | 45.04 | -1.09 % | |
| S2 | 44.79 | -1.63 % | ||
| S3 | 44.38 | -2.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.21 | 3.69 % | |
| R2 | 45.81 | 0.615 % | ||
| R1 | 45.70 | 0.373 % | ||
| Current price | 45.53 | |||
| Support | S1 | 44.62 | -2.00% | |
| S2 | 44.56 | -2.13% | ||
| S3 | 43.98 | -3.40% |
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
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