SUMMIT MIDSTREAM PARTNERS LP (SMLP) Stock Technical Analysis
NYSE:SMLP - New York Stock Exchange, Inc. - US8661424098 - Currency: USD
We assign a technical rating of 10 out of 10 to SMLP. Both in the recent history as in the last year, SMLP 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, SMLP did better than 98% of all other stocks.
SMLP is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 98% of 208 stocks in the same industry.
A new 52 week high is currently being made by SMLP, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
In the last month SMLP has a been trading in the 33.30 - 38.05 range, which is quite wide. It is currently trading near the high of this range.
Although SMLP has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
13.46
38.43
When analyzing the support we can see 3 important areas.
- A support zone ranging from 33.99 to 34.53. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @20.49 from a trend line in the weekly time frame.
- Support @13.60 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SMLP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SMLP is up. |
| ChartMill Relative Strength | 98.35 | POSITIVE | SMLP has a high relative strength, it outperformed 98.35% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SMLP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SMLP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SMLP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.23 | OVERBOUGHT | The high RSI value suggests SMLP may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests SMLP has a positive trend. |
| Stochastics (14,3) | 85.76 | OVERBOUGHT | The high Stochastics value suggests SMLP may be overbought. |
| Average True Range in percent/ATR (20) | 3.09 | MEDIUM VOLATILITY | The ATR as a percentage value for SMLP suggests some volalility. |
| Average Directional Index/ADX (14) | 15.62 | NEGATIVE | The low ADX value for SMLP suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
NYSE:SMLP (7/31/2024, 8:04:00 PM)
38.05
+1.34 (+3.65%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg3.65%
1 Week3.59%
2 Weeks5.02%
1 Month7.88%
3 Month11.85%
6 Month133.01%
12 Month152.82%
2 Year154.52%
3 Year1.98%
5 Year-67.73%
10 Year-94.83%
15 YearN/A
Volatility
ATR(14)1.06
ATR(20)%3.09%
ATR Inc9.89%
Range Today1.57
ADR(20)1.18
ADR(20)%3.09%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS98.35
Mansfield5
10 Day High38.05
10 Day Low35.35
20 Day High38.05
20 Day Low33.3
52 Week High38.05
52 Week Low13
CS1 End34.53
CR1 StartN/A
Volume & EV
DER(3)13.61%
DER(5)12.65%
Volume74.80K
Volume Incr10.13%
Vol(5)34.52K
Vol(50)32.12K