EnLink Midstream LLC Stock Forecast
EnLink Midstream LLC stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
No changes to the price of EnLink Midstream LLC stock on the last trading day (Thursday, 25th Apr 2024). During the last trading day the stock fluctuated 2.18% from a day low at $13.53 to a day high of $13.83. The price has risen in 5 of the last 10 days and is up by 0.22% over the past 2 weeks.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.01% during the next 3 months and, with a 90% probability hold a price between $15.90 and $17.14 at the end of this 3-month period.
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ENLC Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -1.22%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The EnLink Midstream LLC 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 $13.62 and $13.39. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for EnLink Midstream LLC stock
On the downside, the stock finds support just below today's level from accumulated volume at $12.70 and $12.33. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, EnLink Midstream LLC finds support just below today's level at $12.70. If this is broken, then the next support from accumulated volume will be at $12.33 and $12.22.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.295 between high and low, or 2.18%. For the last week the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: $13.20 (-4.20%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (ENLC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect EnLink Midstream LLC to open at $13.71, and during the day (based on 14 day Average True Range), to move between $13.51 and $14.05, which gives a possible trading interval of +/-$0.272 (+/-1.98%) up or down from last closing price. If EnLink Midstream LLC takes out the full calculated possible swing range there will be an estimated 3.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.87 (0.65%) than the support at $12.70 (7.84%), 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.
Earnings coming up
EnLink Midstream LLC will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.140. We will update the financials statements for EnLink Midstream LLC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.62% in the first trading day after earnings release.
Is EnLink Midstream LLC stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for EnLink Midstream LLC stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.356 Buy Candidate Downgraded
Predicted Opening Price for EnLink Midstream LLC of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $13.71 ( 0.496%) | $13.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENLC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.01 | 1.64 % | |
| R2 | 13.89 | 0.83 % | ||
| R1 | 13.82 | 0.322 % | ||
| Current price: | 13.78 | |||
| Support | S1 | 13.60 | -1.31 % | |
| S2 | 13.53 | -1.82 % | ||
| S3 | 13.42 | -2.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.95 | 1.23 % | |
| R2 | 13.94 | 1.16 % | ||
| R1 | 13.87 | 0.653 % | ||
| Current price | 13.78 | |||
| Support | S1 | 12.70 | -7.84% | |
| S2 | 12.33 | -10.52% | ||
| S3 | 12.22 | -11.32% |
ENLC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 25, 2024 | May 14, 2024 | $0.133 | 0.96% |
| 2 | Jan 16, 2024 | Jan 26, 2024 | Feb 09, 2024 | $0.133 | 1.12% |
| 3 | Oct 17, 2023 | Oct 26, 2023 | Nov 10, 2023 | $0.125 | 1.02% |
| 4 | Jul 18, 2023 | Jul 27, 2023 | Aug 11, 2023 | $0.125 | 1.04% |
| 5 | Apr 18, 2023 | Apr 27, 2023 | May 12, 2023 | $0.125 | 1.42% |
FAQ
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