WESTERN MIDSTREAM PARTNERS L (WES)       27.53  -0.85 (-3%)

27.53  -0.85 (-3%)

US9586691035 - After market: 27.53 0 (0%)

Technical Rating

8

Taking everything into account, WES scores 8 out of 10 in our technical rating. Both in the recent history as in the last year, WES 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.
Looking at the yearly performance, WES did better than 93% of all other stocks. On top of that, WES also shows a nice and consistent pattern of rising prices.
WES 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 WES slightly outperforms the market at the moment.
In the last month WES has a been trading in the 26.01 - 29.04 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
WES is part of the Oil, Gas & Consumable Fuels industry. There are 391 other stocks in this industry, WES did better than 61% of them.

Statistics

1 Month 3 Months 6 Months 12 Months 0.84% -2.65% 0.47% 37.31% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 93.41 19.12 - 29.5
WES Weekly chart
WES Daily chart

Support/Resistance Analysis


22.89

29.77
When analyzing the support we can see 6 important areas.
  • A support zone ranging from 27.04 to 27.51. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 26.41 to 26.45. This zone is formed by a combination of multiple trend lines in the daily time frame.
  • Support @25.01 from a trend line in the weekly time frame.
  • Support @24.54 from a horizontal line in the daily time frame.
  • A support zone ranging from 23.93 to 23.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @23.12 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
  • A resistance zone ranging from 28.59 to 28.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • A resistance zone ranging from 29.48 to 29.48. This zone is formed by a combination of multiple trend lines in the daily time frame.

Setup Analysis

Setup Rating

9

WES 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 28.59. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 27.51, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
28.7127.031.68 (5.85%)17.09%
An entry @28.71. This is a Buy Stop order right above the resistance zone.An exit @27.03. This is a Stop Loss order right below the support zone.The trade has a worst case loss of 1.68 points, which is 5.85%.When investing 17.09% of your capital in this trade, your total portfolio risk will be 1.00%.

  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
WES Daily chart

WESTERN MIDSTREAM PARTNERS L27.53

NYSE:WES (12/5/2022, 7:09:25 PM)-0.85 (-3%)

After market: 27.53 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Energy
GICS Industry Oil, Gas & Consumable Fuels
Performance
Today -3% 1 Week 1.93%
2 Weeks -0.47% 1 Month 0.84%
3 Month -2.65% 6 Month 0.47%
Volatility
ATR(14) 0.96 ATR(20)% 3.52%
ATR Inc 4.29% Range Today 1.39
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 93.41 Mansfield 0.97
10 Day High 28.66 10 Day Low 26.01
20 Day High 29.04 20 Day Low 26.01
52 Week High 29.5 52 Week Low 19.12
CS1 End 27.51 CR1 Start 28.59
Volume & EV
DER(3) 1.87% DER(5) 1.3%
Volume 1.13M Volume Incr 27.16%
Vol(5) 1.14M Vol(50) 974.60K

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