Energy Transfer LP (ET): Price Now Near $9.84; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for ET

At the moment, ET (Get Ratings)’s price is up $0.06 (0.57%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

ET ranks 68th in terms of today’s price percentage change out of Utilities stocks.

ET’s Technical Outlook on the Daily Chart

Currently, ET’s price is down $-0.1 (-1.06%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as ET has now gone down 8 of the past 10 days. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows ET’s price action over the past 90 days.

ET

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ET: Daily RSI Analysis

  • For ET, its RSI is now at 59.7015.
  • ET and RSI may be exhibiting divergent trends. This may be something to monitor.

For ET News Traders

News traders keeping an eye on ET may find value in this recent story:

Energy Transfer Announces Quarterly Cash Distribution and Earnings Release and Earnings Call Dates

DALLAS, July 22, 2021–Energy Transfer LP (NYSE: ET) today announced a quarterly cash distribution of $0.1525 per ET common unit ($0.61 on an annualized basis) for the second quarter ended June 30, 2021. The announced quarterly distribution is consistent with the distribution for the first quarter of 2021 and will be paid on August 19, 2021 to unitholders of record as of the close of business on August 6, 2021.

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