EPD trade ideas
EPD: a great long term dividend stockMost of my ideas are illustrated in the chart. Strong fundamentals. It's an oil and gas based company, I'm trying to stay away from tech as I feel it's overvalued.
Most likely on Monday I'm going to buy 80-100 shares and set up DRIP (reinvestment of dividends), and it will essentially be my only long hold. I won't set a stop loss, but I will watch it actively. Even in the event that it is drug down by a recession, DRIP will continue portioning up and decreasing share values, and when it comes back up it'll pay off.
Lemme know what you think,
-Kristian
Edit: Looks like my trend lines got disconnected from spx500, but you get the idea. When the time frame shifts so does the relative percentage/gain loss from the compared stocks.
EPD - Long from Downward channel support at $23.80 to $28.60EPD is running within a channel formation from quite a while, and reached very close to a long term support label. We would consider an aggressive entry here.
* Trade Criteria *
Date First Found- November 15, 2017
Pattern/Why- Downward channel formation, Long from Support
Entry Target Criteria- Break of $23.80
Exit Target Criteria- $28.60
Stop Loss Criteria- $22.87
Please check back for Trade updates. (Note: Trade update is little delayed here.)
EPD in an interesting 3 wave positionI do not know what this business does, but it showed up 2 weeks ago on a scan so I've been following it.
It appears to have developed an interesting Expanded Flat pattern with 5 waves in the wave C down.
Some oscillator divergence showing, and inside relevant channel lines (Green).
A small move down this next couple days and then a Bull pivot as drawn in Pink.
Trigger long IF divergence stays in place and After the micro wave 5 down and Descending trendline break and move back into the Green channel.
Perhaps trigger at 26.66 long with a stop wherever the low comes in near 26.20.
Leaves enough room for a target up to 29.00.
Long EPD on a counter intuitive tradeI consider ascending or descending triangles among the more reliable patterns, but failures of these patterns can be quite good too. EPD has formed a descending triangle on the short term, but is also finding support at the uptrend line on the monthly.
It also coincides with a similar support level on oil spot price.
Coupled with good fundamentals, a long on EPD can be a good way to play the oil recovery.
RRR is optimal for this long term trade. Fading the descending triangle pattern here.
