Tallgrass Energy Partners LP Forecast and Stock Analysis
Technical TEP.L stock analysis for March 22, 2019.
|Shorts||12.69% ( 2018-06-15 )|
Tallgrass Energy Partners LP gained 0.95% in the last trading day, rising from £1 468.00 to £1 482.00 , and 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. The price has risen in 6 of the last 10 days and is up by 4.22% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 102 911 more shares were traded than the day before. In total, 134 855 shares bought and sold for approximately £199.86 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the TEP.L stock was £1 482.00. This is 0.95% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 3.40% from a day low at £1 472.00 to a day high of £1 522.00.
30 day high of the TEP.L stock price was £1 522.00 and low was £1 350.00.
90 day high was £1 530.00 and low was £1 350.00.
52 week high for the Tallgrass Energy Partners LP - £1 530.00 and low - £995.00.
Tallgrass Energy Partners LP is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at £1 498.20 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Tallgrass Energy Partners LP with 90% probability to be traded between £1 338.63 and £1 481.27 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Tallgrass Energy Partners LP holds buy signals from both short- and long-term moving averages. In addition, 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 £1 473.43 and £1 417.43. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday March 20, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 68 and the stock is currently not being overbought or oversold
Support & Resistance
Tallgrass Energy Partners LP finds support from accumulated volume at £1 474.00.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £50.00 (3.40%) between high and low. For the last week, the stock has had a daily average volatility of 2.43%.
Our recommended stoploss: £1.00 (-5.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)
Very Low Low Medium High Very High
Evaluation: Buy Candidate
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period.