Tallgrass Energy GP LP Fund Forecast

Red day on Tuesday for Tallgrass Energy GP LP fund after losing 0%
(Updated on Jul 17, 2018)

TEGP Signals & Forecast

The Tallgrass Energy GP LP fund 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 $22.16 and $22.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 29, 2018, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Tallgrass Energy GP LP fund

Tallgrass Energy GP LP finds support from accumulated volume at $21.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the fund tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the fund During the last day, the fund moved $0 between high and low, or 0%. For the last week the fund has had daily average volatility of 0%

Our recommended stop-loss: $20.83 (-6.00%) (This fund has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (TEGP) For The Upcoming Trading Day Of Wednesday 18th

For the upcoming trading day on Wednesday, 18th we expect Tallgrass Energy GP LP to open at $22.16, and during the day (based on 14 day Average True Range), to move between $21.85 and $22.47, which gives a possible trading interval of +/-$0.312 (+/-1.41%) up or down from last closing price. If Tallgrass Energy GP LP takes out the full calculated possible swing range there will be an estimated 2.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.55 (1.76%) than the support at $21.77 (1.76%), 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 Tallgrass Energy GP LP fund 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 Tallgrass Energy GP LP fund to perform well in the short-term.

Current score: 4.550 Buy Candidate Unchanged

Predicted Opening Price for Tallgrass Energy GP LP of Wednesday, July 18, 2018

The predicted opening price is based on yesterday's movements between high, low, and closing price.