EnLink Midstream LLC Stock Forecast
Stronger technical forecast for EnLink Midstream LLC stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The EnLink Midstream LLC stock price gained 1.25% on the last trading day (Wednesday, 24th Apr 2024), rising from $13.61 to $13.78. During the last trading day the stock fluctuated 2.26% from a day low at $13.52 to a day high of $13.83. The price has been going up and down for this period, and there has been a -0.14% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 716 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $25.95 million.
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 17.81% during the next 3 months and, with a 90% probability hold a price between $15.81 and $17.06 at the end of this 3-month period.
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ENLC Signals & Forecast
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 $13.57 and $13.35. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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).
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 $0.305 between high and low, or 2.26%. For the last week the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: $13.19 (-4.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (ENLC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th 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 +/-$0.271 (+/-1.96%) up or down from last closing price. If EnLink Midstream LLC takes out the full calculated possible swing range there will be an estimated 3.93% 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?
EnLink Midstream LLC holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.335 Strong Buy Candidate Upgraded
Predicted Opening Price for EnLink Midstream LLC of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $13.71 ( 0.520%) | $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 | 1.69 % | |
| R2 | 13.90 | 0.85 % | ||
| R1 | 13.82 | 0.325 % | ||
| Current price: | 13.78 | |||
| Support | S1 | 13.59 | -1.37 % | |
| S2 | 13.52 | -1.89 % | ||
| S3 | 13.40 | -2.73 % |
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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