Trade-Ideas LLC identified
) as a "barbarian at the gate" (strong stocks crossing above resistance with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Crestwood Equity Partners as such a stock due to the following factors:
- CEQP has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $38.2 million.
- CEQP has traded 1.1 million shares today.
- CEQP traded in a range 212.2% of the normal price range with a price range of $3.55.
- CEQP traded above its daily resistance level (quality: 26 days, meaning that the stock is crossing a resistance level set by the last 26 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).
Stocks matching the 'Barbarian at the Gate' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying positive price action. In this case, the stock crossed an important inflection point; namely, 'resistance' while at the same time the range of the stock's movement in price is more than twice its normal size. This large range foreshadows a possible continuation as the stock moves higher.
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More details on CEQP:
Crestwood Equity Partners LP provides midstream solutions to customers in the crude oil, natural gas liquids (NGLs), and natural gas sectors of the energy industry in the United States. The stock currently has a dividend yield of 28.5%.
The average volume for Crestwood Equity Partners has been 329,900 shares per day over the past 30 days. Crestwood Equity has a market cap of $1.3 billion and is part of the basic materials sector and energy industry. The stock has a beta of 2.06 and a short float of 8.7% with 0.36 days to cover. Shares are down 75.9% year-to-date as of the close of trading on Tuesday.
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