Stock Forecast Chart
Stock Price Prediction Summary
Forecast Score Based on 2 Weeks
Based on our forecast, the price of MMP will - over the next 2 Weeks and hit - by . In that time frame, MMP's share price is expected to range between - and -.
BearishAverageBullishMMP shares rose +0.67% in Friday, September 22, 2023's trading session, rising from a previous close of $68.54 to move at $69.00. The stock demonstrated notable intraday movement (see MMP's key stats for a full breakdown), fluctuating between $68.80 and $69.89, a +1.58% trading range. While recent weeks have seen some volatility, MMP has managed to secure a +3.84% gain over the past 2 weeks. The upward price movement was accompanied by increased trading volume, with approximately 31.03M shares changing hands, 24.49M more than the previous session. This amounted to $2.14B in total market activity.
Will MMP Continue Its Trend?
According to analyst ratings and projections for MMP, Magellan Midstream Partners, L.P. shares are anticipated to remain stable by -, potentially reaching - per share by January 1, 1970. Short-term technical indicators currently suggest a bearish sentiment for MMP. However, the stock has recorded 18 positive trading days within the past 30 sessions. Based on the MMP stock forecast, now is not the best time to buy MMP stock because its current trading price is - our predicted value, hinting at a possible . For deeper insights, view our sentiment analysis on MMP covering social and institutional perspectives.
MMP Technical Momentum: Overbought, Oversold, or Neutral?
An analysis of Relative Strength Index (RSI) indicators provides insight into MMP's momentum. Short-term RSIs (9, 14, and 20-day figures ranging from 64.16% to 65.37%) suggest the stock is in a bullish momentum phase. The 50-day RSI, at 61.98%, suggests strong medium-term momentum. Additionally, the 100-day RSI, at 59.38%, maintains a neutral outlook for the long term. Insights into MMP's shareholder base show how institutional investors are positioning themselves during these momentum shifts

