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Look for Shares of Energy Transfer Equity to Potentially Rebound after Yesterday's 1.34% Sell Off

By James Quinn

Energy Transfer Equity (NYSE:ETE) traded in a range yesterday that spanned from a low of $18.38 to a high of $18.63. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $18.44 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Energy Transfer Equity on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.72. Since that recommendation, shares of Energy Transfer Equity have risen 11.4%. We continue to monitor ETE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Energy Transfer Equity have traded between a low of $4.00 and a high of $35.44 and are now at $18.43, which is 361% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2.2% while the 50-day MA has advanced 5.3%.

Keywords: rebounders energy transfer equity

Ticker(s): ETE