GLOBAL PARTNERS LP (GLP) Stock Technical Analysis
NYSE:GLP - US37946R1095
53 USD
+0.95 (+1.83%)
53.29 USD
+0.29 (+0.55%)
Taking everything into account, GLP scores 5 out of 10 in our technical rating. In the last year, GLP was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
In the last month GLP has a been trading in the 48.72 - 53.25 range, which is quite wide. It is currently trading near the high of this range.
When compared to the yearly performance of all other stocks, GLP outperforms 62% of them, which is more or less in line with the market.
GLP is part of the Oil, Gas & Consumable Fuels industry. There are 208 other stocks in this industry, GLP did better than 69% of them.
GLP is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so GLP is lagging the market.
Volume is considerably higher in the last couple of days.
Although the technical rating is only medium, GLP does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 53.45. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 52.90, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GLP in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
45.54
55.64
When analyzing the support we can see 5 important areas.
- Support @52.90 from a horizontal line in the daily time frame.
- A support zone ranging from 50.85 to 51.69. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 48.99 to 49.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @48.16 from a horizontal line in the weekly time frame.
- Support @46.00 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 53.45 to 53.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @55.09 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for GLP is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GLP is up. |
| ChartMill Relative Strength | 62.68 | NEUTRAL | GLP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GLP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of GLP is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of GLP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 63.06 | NEUTRAL | The RSI value for GLP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.31 | POSITIVE | The MACD value suggests GLP has a positive trend. |
| Stochastics (14,3) | 90.06 | OVERBOUGHT | The high Stochastics value suggests GLP may be overbought. |
| Average True Range in percent/ATR (20) | 2.81 | MEDIUM VOLATILITY | The ATR as a percentage value for GLP suggests some volalility. |
| Average Directional Index/ADX (14) | 10.42 | NEGATIVE | The low ADX value for GLP suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
53
+0.95 (+1.83%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg1.83%
1 Week3.86%
2 Weeks3.88%
1 Month0.95%
3 Month0.91%
6 Month-7.71%
12 Month17.57%
2 Year69.44%
3 Year83.01%
5 Year317.32%
10 Year64.14%
15 Year113.37%
Volatility
ATR(14)1.36
ATR(20)%2.81%
ATR Inc-12.6%
Range Today1.44
ADR(20)1.47
ADR(20)%2.77%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS62.68
Mansfield-0.57
10 Day High53.25
10 Day Low49.09
20 Day High53.25
20 Day Low48.72
52 Week High60
52 Week Low40.66
CS1 End52.9
CR1 Start53.45
Volume & EV
DER(3)5.14%
DER(5)2.54%
Volume102.20K
Volume Incr62.03%
Vol(5)70.50K
Vol(50)50.46K