Natural Resource Partners LP Stock Forecast
Red day on Wednesday for Natural Resource Partners LP stock after losing 1.06%
(Updated on Apr 24, 2024)
The Natural Resource Partners LP stock price fell by -1.06% on the last day (Wednesday, 24th Apr 2024) from $89.39 to $88.44. During the last trading day the stock fluctuated 2.25% from a day low at $88.02 to a day high of $90.00. The price has fallen in 6 of the last 10 days but is still up by 1.02% over the past 2 weeks. Volume has increased on the last day by 12 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, 30 thousand shares were bought and sold for approximately $2.66 million.
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 -3.69% during the next 3 months and, with a 90% probability hold a price between $78.52 and $89.41 at the end of this 3-month period.
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NRP Signals & Forecast
There are few to no technical positive signals at the moment. The Natural Resource Partners LP stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $89.52 and $90.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -5.66%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Tuesday, April 02, 2024 and based on theory for this formation the price should fall by -11.36% to $78.39 within 18 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Natural Resource Partners LP stock
Natural Resource Partners LP finds support from accumulated volume at $88.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.98 (2.25%) between high and low. For the last week, the stock has had daily average volatility of 2.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NRP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Natural Resource Partners LP to open at $88.82, and during the day (based on 14 day Average True Range), to move between $85.76 and $91.12, which gives a possible trading interval of +/-$2.68 (+/-3.04%) up or down from last closing price. If Natural Resource Partners LP takes out the full calculated possible swing range there will be an estimated 6.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $88.26 (0.20%) than the resistance at $89.94 (1.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Natural Resource Partners LP will release earnings BMO on Thursday, May 02, 2024. We will update the financials statements for Natural Resource Partners LP, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.35% in the first trading day after earnings release.
Is Natural Resource Partners LP stock A Buy?
Natural Resource Partners LP holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.076 Sell Candidate Unchanged
Predicted Opening Price for Natural Resource Partners LP of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $88.82 ( 0.430%) | $88.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NRP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 90.80 | 2.67 % | |
| R2 | 90.04 | 1.81 % | ||
| R1 | 89.58 | 1.28 % | ||
| Current price: | 88.44 | |||
| Support | S1 | 88.06 | -0.426 % | |
| S2 | 87.60 | -0.95 % | ||
| S3 | 86.84 | -1.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.61 | 4.72 % | |
| R2 | 90.96 | 2.85 % | ||
| R1 | 89.94 | 1.70 % | ||
| Current price | 88.44 | |||
| Support | S1 | 88.26 | -0.204% | |
| S2 | 87.39 | -1.19% | ||
| S3 | 86.40 | -2.31% |
NRP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 18, 2024 | Mar 26, 2024 | $2.44 | 2.66% |
| 2 | Feb 08, 2024 | Feb 16, 2024 | Feb 27, 2024 | $0.750 | 0.83% |
| 3 | Nov 03, 2023 | Nov 13, 2023 | Nov 21, 2023 | $0.750 | 0.98% |
| 4 | Aug 04, 2023 | Aug 15, 2023 | Aug 23, 2023 | $0.750 | 1.14% |
| 5 | May 04, 2023 | May 15, 2023 | May 23, 2023 | $0.750 | 1.56% |
FAQ
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