EPD closes higher for the 2nd day in a row
Enterprise Products Partners L.P. (EPD) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, EPD finished the week 2.71% higher at 28.40 after gaining $0.16 (0.57%) today. Today's closing price of 28.40 marks the highest close since June 14th. Closing above Thursday's high at 28.28, the share confirms its breakout through the previous session's high having traded $0.29 above it intraday.
Friday's trading range was $0.44 (1.56%), that's slightly below last trading month's daily average range of $0.49. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
Breaking through the key resistance level at 28.32 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.