KNOP Forecast and Technical Stock AnalysisSell candidate since 2019-07-18
KNOT Offshore Partners LP fell by -0.60% in the last day ( Thursday, 18th Jul 2019 ) from $20.11 to $19.99 and has now fallen 3 days in a row. During day the stock fluctuated 1.30% from a day low at $19.95 to a day high of $20.21. The price has risen in 5 of the last 10 days and is up by 4.55% over the past 2 weeks. Volume has increased in the last day by 2 628 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 83 894 shares bought and sold for approximately $1.68 million.
- 30 day high of the KNOP stock price was $20.22 and low was $18.90.
- 90 day high was $20.53 and low was $18.63.
- 52 week high for the KNOT Offshore Partners LP - $22.75 and low - $17.18.
KNOT Offshore Partners LP is at the upper part of a horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $20.11 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect KNOT Offshore Partners LP with 90% probability to be traded between $18.49 and $19.87 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.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Tuesday July 16, 2019, which indicates further falls 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. KNOT Offshore 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 $20.04. On a fall, the stock will find some support from the long-term average at approximately $19.30. 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.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
The stock holds a RSI14 at 80 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
Support & Resistance
KNOT Offshore Partners LP finds support from accumulated volume at $19.55.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.26 (1.30%) between high and low. For the last week, the stock has had a daily average volatility of 1.10%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
1.10 %Average volatility
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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 recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
|KNOP $19.99 ($-0.12 -0.60%)|
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