AMLP closes within prior day's range after lackluster session

Alerian MLP (AMLP) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team


AMLP closes within previous day's range after lackluster session


AMLP finished the week -2.0% lower at 7.85 after edging higher $0.01 (0.13%) today on low volume ahead of tomorrow's Presidents' Day market holiday. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session.

Daily Candlestick Chart (AMLP as at Feb 14, 2020):

Daily technical analysis candlestick chart for Alerian MLP (AMLP) as at Feb 14, 2020

Friday's trading range has been $0.10 (1.27%), that's below the last trading month's daily average range of $0.14. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for AMLP.

Alerian MLP shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

2019's low at 7.65 is within reach and we could see further downside momentum should the market break out beyond.

Market Conditions for AMLP as at Feb 14, 2020

Loading Market Conditions for AMLP (Alerian MLP)...
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