Equitrans Midstream Corp. Stock Forecast
Equitrans Midstream Corp. stock price up 0.233% on Tuesday
(Updated on Apr 23, 2024)
The Equitrans Midstream Corp. stock price gained 0.233% on the last trading day (Tuesday, 23rd Apr 2024), rising from $12.86 to $12.89. It has now gained 3 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 2.34% from a day low at $12.80 to a day high of $13.10. The price has fallen in 6 of the last 10 days but is still up by 0.16% over the past 2 weeks. Volume fell on the last day by -617 thousand shares and in total, 5 million shares were bought and sold for approximately $61.80 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 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 28.52% during the next 3 months and, with a 90% probability hold a price between $15.65 and $17.15 at the end of this 3-month period.
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ETRN Signals & Forecast
The Equitrans Midstream Corp. 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 $12.49 and $11.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.22%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Equitrans Midstream Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.39 and $11.32. 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, Equitrans Midstream Corp. finds support just below today's level at $11.39. If this is broken, then the next support from accumulated volume will be at $11.32 and $11.22.
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 $0.300 (2.34%) between high and low. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: $12.43 (-3.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ETRN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Equitrans Midstream Corp. to open at $12.93, and during the day (based on 14 day Average True Range), to move between $12.58 and $13.20, which gives a possible trading interval of +/-$0.313 (+/-2.43%) up or down from last closing price. If Equitrans Midstream Corp. takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.39, some $1.50 (11.64%) from the current price of $12.89, our system finds the risk reward attractive.
Earnings coming up
Equitrans Midstream Corp. will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.210. We will update the financials statements for Equitrans Midstream Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.12% in the first trading day after earnings release.
Is Equitrans Midstream Corp. 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 Equitrans Midstream Corp. stock to perform well in the short-term.
Current score: 2.309 Buy Candidate Unchanged
Predicted Opening Price for Equitrans Midstream Corp. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $12.93 ( 0.310%) | $12.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETRN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.23 | 2.64 % | |
| R2 | 13.12 | 1.75 % | ||
| R1 | 13.04 | 1.20 % | ||
| Current price: | 12.89 | |||
| Support | S1 | 12.82 | -0.579 % | |
| S2 | 12.74 | -1.13 % | ||
| S3 | 12.63 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.89 | |||
| Support | S1 | 11.39 | -11.64% | |
| S2 | 11.32 | -12.18% | ||
| S3 | 11.22 | -12.96% |
ETRN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 06, 2024 | May 06, 2024 | May 15, 2024 | $0.150 | 1.16% |
| 2 | Jan 23, 2024 | Feb 05, 2024 | Feb 14, 2024 | $0.150 | 1.51% |
| 3 | Oct 25, 2023 | Nov 02, 2023 | Nov 14, 2023 | $0.150 | 1.67% |
| 4 | Jul 26, 2023 | Aug 03, 2023 | Aug 14, 2023 | $0.150 | 1.57% |
| 5 | Apr 25, 2023 | May 04, 2023 | May 15, 2023 | $0.150 | 2.76% |
FAQ
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