Enterprise Products Partners L.p. Stock Forecast
Enterprise Products Partners L.p. stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Enterprise Products Partners L.p. stock price gained 0.294% on the last trading day (Tuesday, 25th Jun 2024), rising from £28.91 to £28.99. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.0693% from a day low at £28.99 to a day high of £29.01. The price has risen in 7 of the last 10 days and is up by 1.92% over the past 2 weeks. Volume fell on the last day by -66 shares and in total, 6 shares were bought and sold for approximately £173.94 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a falling trend in the short term, and this may 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 up at the top trend line at £29.03 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.22% during the next 3 months and, with a 90% probability hold a price between £26.70 and £28.10 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0S23.L Signals & Forecast
The Enterprise Products Partners L.p. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £28.55 and £28.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 3.98%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, June 19, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, June 19, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Enterprise Products Partners L.p. stock
Enterprise Products Partners L.p. finds support from accumulated volume at £28.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0.0201 between high and low, or 0.0693%. For the last week the stock has had daily average volatility of 0.367%
Our recommended stop-loss: £28.07 (-3.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 55 days ago.)
Trading Expectations (0S23.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Enterprise Products Partners L.p. to open at £29.00, and during the day (based on 14 day Average True Range), to move between £28.79 and £29.19, which gives a possible trading interval of +/-£0.203 (+/-0.70%) up or down from last closing price. If Enterprise Products Partners L.p. takes out the full calculated possible swing range there will be an estimated 1.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £29.00 (0.03%) than the support at £28.40 (2.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Enterprise Products Partners L.p. stock A Buy?
Enterprise Products Partners L.p. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.497 Hold/Accumulate Downgraded
Predicted Opening Price for Enterprise Products Partners L.p. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £29.00 ( 0.0231%) | £28.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0S23.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.02 | 0.0924% |
| R2 | 29.01 | 0.0660% |
| R1 | 29.00 | 0.0496% |
| Price | 28.99 | |
| S1 | 28.99 | -0.0034% |
| S2 | 28.98 | -0.0197% |
| S3 | 28.98 | -0.0462% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.79 | 2.76% |
| R2 | 29.78 | 2.73% |
| R1 | 29.00 | 0.0348% |
| Price | 28.99 | |
| S1 | 28.40 | -2.03% |
| S2 | 28.31 | -2.35% |
| S3 | 28.18 | -2.79% |
0S23 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 14, 2024 | £0.515 | 1.78% |
| 2 | Jan 30, 2024 | Jan 30, 2024 | Feb 14, 2024 | £0.515 | 1.94% |
| 3 | Oct 30, 2023 | Oct 30, 2023 | Nov 14, 2023 | £0.500 | 1.91% |
| 4 | Jul 28, 2023 | Jul 28, 2023 | Aug 14, 2023 | £0.500 | 1.86% |
| 5 | Apr 27, 2023 | Apr 27, 2023 | May 12, 2023 | £0.490 | 1.89% |
FAQ
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