Strong Buy Candidate
Thu 21'st Sep 2017
Holly Energy Partners LP Stock Analysis
Technical stock analysis for Thu 21'st Sep 2017
Buy candidate since 2017-09-06 Gain 7.91%
Given the current horizontal trend you can expect Holly Energy Partners LP with 90% probability to be traded between $30.57 and $36.33 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Holly Energy 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 $34.44. On a fall, the stock will find some support from the long-term average at approximately $32.72. 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. A buy signal was issued from a pivot bottom point on Tuesday September 19, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 63 and the stock is currently not being overbought or oversold
Support & Resistance
Holly Energy Partners LP finds support from accumulated volume at $34.23. On the upside the stock meets some resistance just above today's level from accumulated volume at $35.08, $35.24 and $35.29.
The stock is about to test the resistance from accumulated volume at $35.08 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.99 between high and low, or 2.92%. For the last week, the stock has had a daily average volatility of 2.70%.
Our recommended stoploss: $32.20 (-5.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
Holly Energy Partners LP holds several positive signals and is considered to be a good choice at current levels. We expect the stock to perform great in the short-term period.
Strong Buy Candidate
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