Magellan Midstream Partners LP (MMP): Price Now Near $53.1; Daily Chart Shows An Uptrend on 100 Day Basis

The Hourly View for MMP

At the moment, MMP (Get Ratings)’s price is down $-0.26 (-0.49%) from the hour prior. MMP has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

MMP ranks 112th in terms of today’s price percentage change out of Transportation stocks.

MMP’s Technical Outlook on the Daily Chart

Currently, MMP’s price is down $-0.42 (-0.78%) from the day prior. This move is a reversal from the day prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Magellan Midstream Partners LP’s price action over the past 90 days can be seen via the chart below.

MMP

For MMP News Traders

Investors and traders in MMP may be particularly interested in the following story that came out in the past day:

Magellan Midstream Announces Sale of Independent Terminals

Magellan Midstream Partners, L.P. (NYSE: MMP) announced today an agreement to sell its independent terminals network comprised of 26 refined petroleum products terminals with approximately 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye Partners, L.P. for $435 million.

Want More Great Investing Ideas?

9 “MUST OWN” Growth Stocks for 2021

5 WINNING Stock Chart Patterns

7 Best ETFs for the NEXT Bull Market