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Look for Shares of Enterprise Products Partners to Potentially Pullback after Yesterday's 1.00% Rise

By Amy Schwartz

Enterprise Products Partners (NYSE:EPD) traded in a range yesterday that spanned from a low of $26.42 to a high of $26.84. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $26.70 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Enterprise Products Partners have traded between a low of $19.00 and a high of $34.56 and are now at $26.59, which is 40% above that low price. The 200-day and 50-day moving averages have moved 0.25% lower and 0.90% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Enterprise Products Partners on August 1st, 2016 by issuing a Downtrend alert when the shares were trading at $27.67. Since that call, shares of Enterprise Products Partners have fallen 4.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders enterprise products partners

Ticker(s): EPD