Energy Transfer Equity’s moving averages
Energy Transfer Equity (ETE) continued to trade above its 50-day and 200-day moving averages. The partnership was trading 2.2% above its 50-day simple moving average and 4.7% above its 200-day simple moving average as of July 11, respectively. The moving averages might indicate bullish sentiment in Energy Transfer Equity stock. Williams Companies (WMB) and Western Gas Equity Partners (WGP) were trading 2.8% and 4.8% below their 200-day moving averages.
A decline in crude oil prices, project delays, and general weakness in US markets due to trade war concerns could push Energy Transfer Equity below its 50-day simple moving average, which results in bearish sentiment. Positive earnings surprises and the decline in US Treasury yields could continue to drive the positive momentum in Energy Transfer Equity stock.
Short interest in Energy Transfer Equity
The short interest in Energy Transfer Equity was 23.9 million shares as of July 11. At the same time, the short interest in Energy Transfer Equity as a percentage of float ratio was 3.22%. The current short interest in Energy Transfer Equity is slightly lower than the 30-day average of 3.24%. The short in Energy Transfer Equity is significantly lower than the one-year average of 5.21%. A decline in the short interest despite an increase in the stock price indicates that the market expects the stock price to increase. However, a decline in crude oil prices from here could result in a higher short position and put pressure on the stock price.
Next, we’ll discuss Energy Transfer Equity’s seven-day price forecast based on its implied volatility.
Energy Transfer Equity (ETE) was trading at a distribution yield of 6.9% as of July 11. Recently, Energy Transfer Equity's stock price increased.
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