EnLink Midstream LLC Stock Forecast
EnLink Midstream LLC stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The EnLink Midstream LLC stock price fell by -0.621% on the last day (Friday, 3rd May 2024) from $12.88 to $12.80. During the last trading day the stock fluctuated 1.49% from a day low at $12.77 to a day high of $12.96. The price has risen in 5 of the last 10 days but is still down by -5.81% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -294 thousand shares and in total, 1 million shares were bought and sold for approximately $15.00 million.
Given the current short-term trend, the stock is expected to rise 16.62% during the next 3 months and, with a 90% probability hold a price between $14.93 and $16.60 at the end of this 3-month period.
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ENLC Signals & Forecast
There are few to no technical positive signals at the moment. The EnLink Midstream LLC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.43 and $13.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -9.22%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for EnLink Midstream LLC stock
EnLink Midstream LLC finds support from accumulated volume at $12.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.190 (1.49%) between high and low. For the last week, the stock has had daily average volatility of 3.15%.
Our recommended stop-loss: $11.99 (-6.30%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (ENLC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect EnLink Midstream LLC to open at $12.84, and during the day (based on 14 day Average True Range), to move between $12.46 and $13.14, which gives a possible trading interval of +/-$0.344 (+/-2.69%) up or down from last closing price. If EnLink Midstream LLC takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.87 (0.55%) than the support at $12.70 (0.78%), 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 EnLink Midstream LLC stock A Buy?
EnLink Midstream LLC holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.258 Hold/Accumulate Upgraded
Predicted Opening Price for EnLink Midstream LLC of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $12.84 ( 0.339%) | $12.80 |
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 | 13.03 | 1.82 % | |
| R2 | 12.96 | 1.26 % | ||
| R1 | 12.92 | 0.91 % | ||
| Current price: | 12.80 | |||
| Support | S1 | 12.77 | -0.228 % | |
| S2 | 12.73 | -0.579 % | ||
| S3 | 12.65 | -1.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.78 | 7.66 % | |
| R2 | 13.56 | 5.94 % | ||
| R1 | 12.87 | 0.547 % | ||
| Current price | 12.80 | |||
| Support | S1 | 12.70 | -0.781% | |
| S2 | 12.33 | -3.67% | ||
| S3 | 12.22 | -4.53% |
ENLC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 25, 2024 | May 14, 2024 | $0.133 | 1.03% |
| 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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