EPD closes higher for the 2nd day in a row


Enterprise Products Partners L.P. (EPD) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
EPD pushes through key resistance level
EPD closes higher for the 2nd day in a row
EPD pushes through previous session high
EPD rises to highest close since June 14th
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

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.

Daily chart for EPD
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 28.32 today, it is now likely to act as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Enterprise Products Partners L.P.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Black Candle TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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