Is ENTERPRISE PRODUCTS PARTNERS (NYSE:EPD) Ready to Break Out of Its Range?

Our stock screener has spotted ENTERPRISE PRODUCTS PARTNERS (NYSE:EPD) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:EPD.

In-Depth Technical Analysis of EPD

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Taking everything into account, EPD scores 9 out of 10 in our technical rating. 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 term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• When comparing the yearly performance of all stocks, we notice that EPD is one of the better performing stocks in the market, outperforming 85% of all stocks. On top of that, EPD also shows a nice and consistent pattern of rising prices.
• EPD is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 77% of 209 stocks in the same industry.
• 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.
• In the last month EPD has a been trading in the 32.53 - 34.53 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of EPD

How does the Setup look for EPD

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For EPD this score is currently 8:

EPD has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 34.43. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 33.72, a Stop Loss order could be placed below this zone.

Trading setups like 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.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice. 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.