Enterprise Products Partners L.P. (NYSE:EPD) Is Flashing Somewhat Warning Signal on Charts

Enterprise Products Partners L.P. (NYSE:EPD) fell by -0.52% in Thursday’s trading session from $26.80 to $26.66 The stock price went upward in 5 of the last 10 days and has generated 2.07% during the last two weeks. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -2.31 million shares and in total 4.37 M shares exchanged hands for about $116.39 million.

Inside EPD’s Recent Trend

Enterprise Products Partners L.P. (EPD) lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break down through the support point at $26.78 will initially suggest a lower tendency for declines in the price and this might very well be an early sign that a trend shift is coming. Short-term traders are anticipated to see a retreat of -4.24% over the course of a quarter and, with 90% chance the price will be floating in the range of $23.23 and $25.64 in this timeframe.

Enterprise Products Partners L.P. Technical Signals

EPD has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $26.42 and $26.12. A break down through these support points will trigger sell signals. Some other technical concerns emerged as well, putting in risk the future growth of the stock in the next couple of days. Its pivot point high generated sell signal on Wednesday October 11, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

Enterprise Products Partners L.P. (NYSE:EPD) Support And Resistance Levels

Enterprise Products Partners L.P. (EPD) recorded volume accumulation so there will probably be a surplus of buyers at $26.29. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $27.19, $27.24 and $27.65.

Accumulated volume is going to prevent the price from rising further at $27.19 and this action will lead the price to take a temporary pause or stay muted for a few days.

Enterprise Products Partners L.P. (EPD) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.26 (0.98%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 0.94%.

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