Regency Energy Partners

Regency Energy Partners (RGP)

Mondays Volume: 2.30 million
Three-Month Average Volume: 650,617
Volume % Change: 295%

From a technical perspective, RGP soared higher here back above both its 50-day moving average at $24.83 and its 200-day moving average at $25.59 with strong upside volume. This move pushed shares of RGP out of its sideways consolidation pattern, which had the stock moving between $24 and $26 over the last few months. Market players should now look for a continuation move higher in the short-term of RGP manages to take out Monday's intraday high of $27.21 with high volume.

Traders should now look for long-biased trades in RGP as long as its trending above its 200-day at $25.59 or above its 50-day at $24.83 and then once it sustains a move or close above $27.21 with volume thats near or above 650,617 shares. If we get that move soon, then RGP will set up to re-test or possibly take out its next major overhead resistance level at $28.99 to its 52-week high at $29.52. Any high-volume move above those levels will then give RGP a chance to trend north of $30.

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