EPD rallies 4.15% closing $1.07 higher
Enterprise Products Partners L.P. (EPD) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
EPD finished Monday at 26.83 surging $1.07 (4.15%). This is the biggest single day gain in over a year. Today's closing price of 26.83 marks the highest close since February 14th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 26.00, the share confirms its breakout through the previous session's high having traded $0.96 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (EPD as at Apr 16, 2018):
Monday's trading range was $1.20 (4.64%), that's far above last trading month's daily average range of $0.66. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Breaking through the key resistance level at 26.03 today, it is now likely to act as support going forward.
The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 100-day moving average at 25.91 today for the first time since March 9th.