Martin Midstream Partners L.P. Stock Forecast
Volatile ride for Martin Midstream Partners L.P. stock price on Tuesday moving between $2.39 and $2.65
(Updated on Apr 16, 2024)
The Martin Midstream Partners L.P. stock price gained 7.29% on the last trading day (Tuesday, 16th Apr 2024), rising from $2.47 to $2.65. During the last trading day the stock fluctuated 10.88% from a day low at $2.39 to a day high of $2.65. The price has fallen in 5 of the last 10 days but is still up by 1.15% over the past 2 weeks. Volume fell on the last day by -82 thousand shares and in total, 46 thousand shares were bought and sold for approximately $123.18 thousand. 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 lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.78% during the next 3 months and, with a 90% probability hold a price between $2.92 and $3.25 at the end of this 3-month period.
MMLP Signals & Forecast
The Martin Midstream Partners L.P. 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 $2.55 and $2.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 7.29%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Martin Midstream Partners L.P. stock
Martin Midstream Partners L.P. finds support from accumulated volume at $2.58 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.260 between high and low, or 10.88%. For the last week the stock has had daily average volatility of 5.83%
Our recommended stop-loss: $2.56 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (MMLP) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Martin Midstream Partners L.P. to open at $2.56, and during the day (based on 14 day Average True Range), to move between $2.52 and $2.78, which gives a possible trading interval of +/-$0.129 (+/-4.88%) up or down from last closing price. If Martin Midstream Partners L.P. takes out the full calculated possible swing range there will be an estimated 9.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.66 (0.38%) than the support at $2.58 (2.64%), 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.
Earnings coming up
Martin Midstream Partners L.P. will release earnings AMC on Wednesday, April 17, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for Martin Midstream Partners L.P., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.13% in the first trading day after earnings release.
Is Martin Midstream Partners L.P. stock A Buy?
Martin Midstream Partners L.P. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.550 Strong Buy Candidate Upgraded
Predicted Opening Price for Martin Midstream Partners L.P. of Wednesday, April 17, 2024
Fair opening price April 17, 2024 | Current price |
---|---|
$2.56 ( 3.27%) | $2.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMLP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.82 | 6.54 % | |
R2 | 2.72 | 2.79 % | ||
R1 | 2.66 | 0.477 % | ||
Current price: | 2.65 | |||
Support | S1 | 2.46 | -7.02 % | |
S2 | 2.40 | -9.33 % | ||
S3 | 2.30 | -13.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 2.66 | 0.377 % | ||
Current price | 2.65 | |||
Support | S1 | 2.58 | -2.64% | |
S2 | 2.47 | -6.79% | ||
S3 | 2.26 | -14.72% |
MMLP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 23, 2024 | Feb 06, 2024 | Feb 14, 2024 | $0.0050 | 0.228% |
2 | Oct 18, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.0100 | 0.394% |
3 | Jul 19, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.0050 | 0.179% |
4 | Apr 19, 2023 | May 05, 2023 | Aug 14, 2023 | $0.0050 | 0.179% |
5 | Jan 23, 2023 | Feb 06, 2023 | May 15, 2023 | $0.0050 | 0.217% |
FAQ
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