Looking at a day trade position on ENLC, it's following my strategy entry requirements, and it's also showing some hidden bullish divergence. This is just my opinion and idea for a stock, and this is not financial advice. Let me know what you think and let's see what happens with the trade.
Daily Chart Analysis:
After a lengthy continuation of a downtrend lasting around 525 days, ENLC entered an Accumulation Phase between 0.87-4.44 that lasted around 338 days. The bulls really flashed their strength during this sideways phase. To start, once finding its low point at 0.87, price goes into a descending triangle. Despite the bearish pattern (especially...
Ascending Triangle (87PC)
Pros:
Descending volume during formation
Golden cross in blue
PPS above 50MA and 200MA
RS above 0, and ascending but barely
ATR Ascending
R/R ratio above 14, high
200MA ascending
Cons:
250RSI below 50
Target:
PT = 9.36$
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Always do your own due...
Details in photo looks like a good buy right now after checking on a few things. My notes aren't 100% fact. Just understand that these are my personal notes and should not be taken as professional advice!
Interesting cheap stock outlook
Foward looking p/e ratio of 16.28
One of the highest dividend yields of 12.80%
Barclays, Credit Suisse etc. expecting to see ENLC reach $1 and our forecast is in line with this
NYSE:ENLC
Couldn't buy back the fall and fixed at buying zone.
Instrument is gaining position and confidently testing the support level.
False breakouts don't pull back up.
I leave it on a short-list for some days with an alerts.
I will wait for fixation under the level and will start to find an entry point.
