Navios Maritime Partners LP Stock Forecast
Stronger technical forecast for Navios Maritime Partners LP stock price after Friday trading.
(Updated on Apr 26, 2024)
The Navios Maritime Partners LP stock price gained 1.73% on the last trading day (Friday, 26th Apr 2024), rising from $43.95 to $44.71. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.31% from a day low at $43.70 to a day high of $44.71. The price has fallen in 6 of the last 10 days but is still up by 4.1% over the past 2 weeks. Volume fell on the last day by -56 thousand shares and in total, 106 thousand shares were bought and sold for approximately $4.76 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 lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.79 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 49.30% during the next 3 months and, with a 90% probability hold a price between $63.88 and $81.63 at the end of this 3-month period.
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NMM Signals & Forecast
The Navios Maritime Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $42.81 and $42.64. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Navios Maritime Partners LP stock
Navios Maritime Partners LP finds support from accumulated volume at $44.30 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 $1.01 between high and low, or 2.31%. For the last week the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: $43.11 (-3.58%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (NMM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Navios Maritime Partners LP to open at $44.37, and during the day (based on 14 day Average True Range), to move between $43.43 and $45.99, which gives a possible trading interval of +/-$1.28 (+/-2.85%) up or down from last closing price. If Navios Maritime Partners LP takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $44.30 (0.92%) than the resistance at $45.36 (1.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Navios Maritime Partners LP stock A Buy?
Navios Maritime Partners LP 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 Buy to a Strong Buy candidate.
Current score: 5.013 Strong Buy Candidate Upgraded
Predicted Opening Price for Navios Maritime Partners LP of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $44.37 ( 0.753%) | $44.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.38 | 1.51 % | |
| R2 | 45.00 | 0.643 % | ||
| R1 | 44.76 | 0.110 % | ||
| Current price: | 44.71 | |||
| Support | S1 | 43.99 | -1.62 % | |
| S2 | 43.75 | -2.15 % | ||
| S3 | 43.36 | -3.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 45.36 | 1.45 % | ||
| Current price | 44.71 | |||
| Support | S1 | 44.30 | -0.92% | |
| S2 | 40.89 | -8.54% | ||
| S3 | 36.38 | -18.63% |
NMM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Feb 09, 2024 | Feb 14, 2024 | $0.0500 | 0.162% |
| 2 | Oct 26, 2023 | Nov 06, 2023 | Nov 13, 2023 | $0.0500 | 0.231% |
| 3 | Jul 26, 2023 | Aug 07, 2023 | Aug 11, 2023 | $0.0500 | 0.211% |
| 4 | Apr 28, 2023 | May 08, 2023 | May 12, 2023 | $0.0500 | 0.219% |
| 5 | Jan 27, 2023 | Feb 09, 2023 | May 12, 2023 | $0.0500 | 0.219% |
FAQ
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