KNOT Offshore Partners LP Stock Forecast
Evaluation of KNOT Offshore Partners LP stock downgraded after the last trading session.
(Updated on Apr 22, 2024)
The KNOT Offshore Partners LP stock price fell by -0.196% on the last day (Monday, 22nd Apr 2024) from $5.10 to $5.09. During the last trading day the stock fluctuated 4.23% from a day low at $5.00 to a day high of $5.21. The price has fallen in 6 of the last 10 days and is down by -3.23% for this period. Volume has increased on the last day by 17 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, 90 thousand shares were bought and sold for approximately $456.66 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.40% during the next 3 months and, with a 90% probability hold a price between $4.33 and $4.82 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KNOP Signals & Forecast
There are mixed signals in the stock today. The KNOT Offshore Partners LP stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.22. On a fall, the stock will find some support from the short-term average at $5.07. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). KNOT Offshore Partners LP gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.21%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for KNOT Offshore Partners LP stock
KNOT Offshore Partners LP finds support from accumulated volume at $5.07 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 $0.211 between high and low, or 4.23%. For the last week the stock has had daily average volatility of 3.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KNOP) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect KNOT Offshore Partners LP to open at $5.10, and during the day (based on 14 day Average True Range), to move between $4.91 and $5.27, which gives a possible trading interval of +/-$0.180 (+/-3.54%) up or down from last closing price. If KNOT Offshore Partners LP takes out the full calculated possible swing range there will be an estimated 7.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.07 (0.39%) than the resistance at $5.50 (8.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is KNOT Offshore Partners LP stock A Buy?
KNOT Offshore Partners LP holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -2.908 Sell Candidate Downgraded
Predicted Opening Price for KNOT Offshore Partners LP of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $5.10 ( 0.189%) | $5.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KNOP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.31 | 4.34 % | |
| R2 | 5.23 | 2.75 % | ||
| R1 | 5.18 | 1.77 % | ||
| Current price: | 5.09 | |||
| Support | S1 | 5.02 | -1.40 % | |
| S2 | 4.97 | -2.38 % | ||
| S3 | 4.89 | -3.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.90 | 15.91 % | |
| R2 | 5.74 | 12.77 % | ||
| R1 | 5.50 | 8.06 % | ||
| Current price | 5.09 | |||
| Support | S1 | 5.07 | -0.393% | |
| S2 | 5.02 | -1.38% | ||
| S3 | 4.98 | -2.16% |
KNOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2024 | Apr 26, 2024 | May 09, 2024 | $0.0260 | 0.515% |
| 2 | Jan 16, 2024 | Jan 26, 2024 | Feb 08, 2024 | $0.0260 | 0.452% |
| 3 | Oct 12, 2023 | Oct 25, 2023 | Nov 09, 2023 | $0.0260 | 0.448% |
| 4 | Jul 13, 2023 | Jul 26, 2023 | Aug 10, 2023 | $0.0260 | 0.500% |
| 5 | Apr 13, 2023 | Apr 26, 2023 | May 11, 2023 | $0.0260 | 0.579% |
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