NYSE:EPD Shows Potential for a Breakout.

ENTERPRISE PRODUCTS PARTNERS (NYSE:EPD) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:EPD.

Analyzing the Technical Aspects

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, EPD scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, EPD is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, EPD did better than 77% of all other stocks. On top of that, EPD also shows a nice and consistent pattern of rising prices.
• EPD is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so EPD is leading the market.
• EPD is part of the Oil, Gas & Consumable Fuels industry. There are 218 other stocks in this industry, EPD did better than 48% of them.
• In the last month EPD has a been trading in a tight range between 26.68 and 27.77.

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

How does the Setup look for NYSE:EPD

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:EPD currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.

EPD has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 27.64. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 27.23, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:EPD

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NYSE:EPD and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

Keep in mind

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.