Exploring ENTERPRISE PRODUCTS PARTNERS's Technical Signals and Breakout Potential.

ENTERPRISE PRODUCTS PARTNERS (NYSE:EPD) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:EPD.

Deciphering the Technical Picture of NYSE:EPD

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 9 out of 10 to EPD. Both in the recent history as in the last year, EPD has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, EPD did better than 75% of all other stocks. On top of that, EPD also shows a nice and consistent pattern of rising prices.
• EPD is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so EPD slightly outperforms the market at the moment.
• EPD is part of the Oil, Gas & Consumable Fuels industry. There are 216 other stocks in this industry, EPD did better than 59% of them.
• In the last month EPD has a been trading in a tight range between 26.49 and 27.77.

Our latest full technical report of EPD contains the most current technical analsysis.

Why is NYSE:EPD a setup?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:EPD is 8:

Besides having an excellent technical rating, EPD also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 27.07, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EPD in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:EPD?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.