EPD appears to be bouncing off the bottom TL with a bullish engulfing candle appearing today. Long entry with a stop loss right below bearish candle low from 5/3 at $22.77.
Look for anticipated breakage of upper TL at 23.70. First sign of R is 25.10.
Target is 27.88 with R at 26.75 and 27.50.
Not a recommendation! Let me know what you think. Thanks =]
Looking at your candle chart. All last summer and fall not big differences between sellers and buyers but price drifted quite a bit lower. Now we are seeing not big difference in volume of sellers and buyers but the price is drifting higher. Reason: People are willing to pay more for the co now because there are fewer bargains in the market, oil ppb is climbing quickly and steadily, and dividend is above expected return in market as the market begins to trade sideways at these highs. I am optimistic that it will hit $28 by next year if oil sustains current price levels / higher = faster. I will probably sell at $28 and take profits (target).