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Is This the Right Time for Buckeye Partners?

PART:
1 2 3 4 5 6 7 8 9 10 11
Part 9
Is This the Right Time for Buckeye Partners? PART 9 OF 11

Buckeye Partners’ Technical Indicators: Could They Hint Recovery?

Buckeye Partners’ moving averages

Buckeye Partners (BPL) has been trading below its short-term (50-day) and long-term (200-day) moving averages since the end of July 2017. That might indicate a bearish sentiment in BPL stock. It was trading 7.0% below its 50-day SMA (simple moving average) and 13.4% below its 200-day SMA as of September 7, 2017. In comparison, Kinder Morgan (KMI) and NuStar Energy (NS) are trading 7.1% and 14.8%, respectively, below their long-term moving averages.

 Buckeye Partners’ Technical Indicators: Could They Hint Recovery?

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Short interest in Buckeye Partners

Short interest in Buckeye Partners was ~2.8 million shares as of September 7, 2017. Short interest in BPL as a percentage of float ratio was 1.96%. The current short interest in BPL is lower than last month’s average of 1.99%. However, short interest in Buckeye Partners is still higher than the last one-year average of 1.78%. That could indicate a bearish sentiment in BPL.

Buckeye Partners’ price forecast

BPL’s 30-day implied volatility was 18.7% as of September 1, 2017. Based on its current implied volatility, BPL might trade in the range of $54.94–$57.86 in the next seven days. BPL is expected to trade within that range 68.0% of the time, assuming a normal distribution of prices and using a standard deviation of one.

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