I was searching ngl after hours and I came across a article from stock news gazette. Thoughts from the board ?
stocknewsgazette.com
NGL Energy Partners LP (NYSE:NGL) gained 10.81% in yesterday’s session, going up from its prior closing price of $9.25 to $10.25, and has now recorded rally in 4 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions.. The price has fallen in 5 of the last 10 days, but is still up by 11.41% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 0.03 million more shares exchanged hands compared with prior day. In total, 2.87 M shares exchanged hands for about $29.38 million.
Inside NGL’s Recent Trend
NGL Energy Partners LP (NGL) lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break down through the support point at $10.67 will initially suggest a lower tendency for declines in the price and this might very well be an early sign that a trend shift is coming. Short-term traders are anticipated to see a retreat of -32.44% over the course of a quarter and, with 90% chance the price will be floating in the range of $4.59 and $7.21 in this timeframe.
NGL Energy Partners LP Technical Signals
NGL has witnessed its long term and short term MA triggering a buy signal but chances are low for long-term averages to cross above short-term averages which the market considers a major buy signal.. Upon corrections, the price will meet support from the averages between $9.14 and $10.07. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Friday September 08, 2017, which calls for additional surge until the stock forms a new pivot point high. There was increase in both volume and price. This is usually interpreted as a good sign as traders widely believe rising stock should see increasing volume.
NGL Energy Partners LP (NYSE:NGL) Support And Resistance Levels
NGL Energy Partners LP (NGL) recorded volume accumulation so there will probably be a surplus of buyers at $9.80. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $10.70, $12.20 and $12.75.
Accumulated volume is going to prevent the price from rising further at $10.70 and this action will lead the price to take a temporary pause or stay muted for a few days.
NGL Energy Partners LP (NGL) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $1.25 (13.37%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 6.04%.
