EPD rallies 4.15% closing $1.07 higher


Enterprise Products Partners L.P. (EPD) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
EPD rallies 4.15% closing $1.07 higher
EPD pushes through key resistance level
EPD dominated by bulls lifting the market higher throughout the day
EPD pushes through 100-day moving average
EPD ends the day on a bullish note closing near the high of the day
TQ Sentiment
Report Sentiment: 85% Bullish
Technical Forecast:
Overview

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 chart for EPD
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 26.03 today, it is now likely to act as support going forward.

Trend

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.

Conclusion

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

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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