Energy Transfer Stock Forecast
Energy Transfer stock price up 0.244% on Tuesday
(Updated on Jul 02, 2024)
The Energy Transfer stock price gained 0.244% on the last trading day (Tuesday, 2nd Jul 2024), rising from $16.36 to $16.40. 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 1.04% from a day low at $16.31 to a day high of $16.48. The price has risen in 9 of the last 10 days and is up by 7.05% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 10 million shares were bought and sold for approximately $158.71 million. 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 has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $16.27 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $17.41 sometime during the next 3 months.
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ET Signals & Forecast
Mostly positive signals in the chart today. The Energy Transfer 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 $16.12 and $15.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 8.18%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 and based on theory for this formation the price should go up by 2.20% to $16.76 within 42 trading days since signal was issued (Thursday, August 15, 2024).
Support, Risk & Stop-loss for Energy Transfer stock
Energy Transfer finds support from accumulated volume at $16.13 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 $0.170 (1.04%) between high and low. For the last week, the stock has had daily average volatility of 1.20%.
Our recommended stop-loss: $15.90 (-3.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (ET) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Energy Transfer L.P. to open at $16.40, and during the day (based on 14 day Average True Range), to move between $16.18 and $16.62, which gives a possible trading interval of +/-$0.223 (+/-1.36%) up or down from last closing price. If Energy Transfer L.P. takes out the full calculated possible swing range there will be an estimated 2.72% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $16.13, some $0.270 (1.65%) from the current price of $16.40, our system finds the risk reward attractive.
Is Energy Transfer L.P. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Energy Transfer stock to perform well in the short-term period.
Current score: 4.195 Buy Candidate Unchanged
Predicted Opening Price for Energy Transfer L.P. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $16.40 ( 0.0203%) | $16.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ET
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.57 | 1.02% |
| R2 | 16.50 | 0.620% |
| R1 | 16.46 | 0.376% |
| Price | 16.40 | |
| S1 | 16.33 | -0.416% |
| S2 | 16.29 | -0.661% |
| S3 | 16.23 | -1.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 16.40 | |
| S1 | 16.13 | -1.65% |
| S2 | 15.48 | -5.61% |
| S3 | 15.23 | -7.13% |
ET Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | May 10, 2024 | May 20, 2024 | $0.318 | 1.97% |
| 2 | Jan 25, 2024 | Feb 06, 2024 | Feb 20, 2024 | $0.315 | 2.15% |
| 3 | Oct 20, 2023 | Oct 27, 2023 | Nov 20, 2023 | $0.313 | 2.31% |
| 4 | Jul 25, 2023 | Aug 11, 2023 | Aug 21, 2023 | $0.310 | 2.38% |
| 5 | Apr 26, 2023 | May 05, 2023 | May 22, 2023 | $0.308 | 2.42% |
FAQ
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