GLOBAL PARTNERS LP (GLP) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:GLP • US37946R1095
Overall GLP gets a technical rating of 5 out of 10. In the past year, GLP was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
- When comparing the yearly performance of all stocks, GLP is a bad performer in the overall market: 76% of all stocks are doing better.
- GLP is one of the lesser performing stocks in the Oil, Gas & Consumable Fuels industry. 73% of 206 stocks in the same industry do better.
- The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- GLP is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- 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.
Although the technical rating is only medium, GLP does present a nice setup opportunity. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 47.00. Right above this resistance zone may be a good entry point.
More info and screens
40.27
When analyzing the support we can see 2 important areas.
- A support zone ranging from 42.01 to 42.47. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Support @40.68 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 47.00 to 47.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @49.21 from a trend line in the weekly 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 | 24.28 | NEGATIVE | GLP has a low relative strength, it was outperformed by 75.72% off all stocks 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) | UP | POSITIVE | The current price of GLP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of GLP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.27 | NEUTRAL | The RSI value for GLP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests GLP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 68.75 | NEUTRAL | The Stochastics value for GLP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.82 | MEDIUM VOLATILITY | The ATR as a percentage value for GLP suggests some volalility. |
| Average Directional Index/ADX (14) | 20.76 | NEUTRAL | The ADX value for GLP suggests a possible start of a new trend. |
46.32
-0.62 (-1.32%)
GLOBAL PARTNERS LP / GLP FAQ
Can you provide the ChartMill technical rating for GLOBAL PARTNERS LP?
ChartMill assigns a technical rating of 5 / 10 to GLP.
What is the current trend direction of GLOBAL PARTNERS LP (GLP) stock?
The current trend direction for GLOBAL PARTNERS LP (GLP) is Bearish.
Can you provide the RSI signal for GLOBAL PARTNERS LP?
GLOBAL PARTNERS LP (GLP) has an RSI value of 55.2714. This indicates that the stock is currently neutral.
What is the support and resistance level for GLP stock?
GLOBAL PARTNERS LP (GLP) has a support level at 42.47 and a resistance level at 47. Check the full technical report for our detailed analysis of GLP support and resistance levels.