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Energy Transfer Equity(ETE) owns and operates a diversified portfolio of energy assets in the natural gas, natural gas liquids, and propane sectors in the U.S. This stock is trading up 1.9% at $45.54 in recent trading.
Today's Volume: 786,000
Average Volume: 569,337
Volume % Change: 144%
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From a technical perspective, ETE is bouncing modestly to the upside here right above its 50-day moving average of $43.78 with above-average volume. This move is quickly pushing ETE within range of triggering a near-term breakout trade. That trade will hit once ETE manages to take out some near-term overhead resistance at $46.07 with high volume.
Traders should now look for long-biased trades in ETE as long as its trending above its 50-day, and then once it sustains a move or close above $46.07 with volume that hits near or above 569,337 shares. If that breakout triggers soon, then look for ETE to tag $50 to $55 in the near future.