ENTERPRISE PRODUCTS PARTNERS L.P

I do not know what this business does, but it showed up 2 weeks ago on a scan so I've been following it. It appears to have developed an interesting Expanded Flat pattern with 5 waves in the wave C down. Some oscillator divergence showing, and inside relevant channel lines (Green). A small move down this next couple days and then a Bull pivot as drawn in ...

First target 18.50, second target 15

Great risk/reward set up

A very well run company that has not slashed dividends... has little to no debt and is a leader within the MLP industry. This is a long term buy and hold for me... I will reinvest dividends to cost average down if we fall more. Ryan

I consider ascending or descending triangles among the more reliable patterns, but failures of these patterns can be quite good too. EPD has formed a descending triangle on the short term, but is also finding support at the uptrend line on the monthly. It also coincides with a similar support level on oil spot price. Coupled with good fundamentals, a long on EPD ...