Energy Transfer Equity (ETE) rose just above its 50-day simple moving average, driven by the last week’s gains. It’s currently trading 0.8% above its 50-day SMA (simple moving average) and 11.6% above its 200-day SMA, which might indicate bullish sentiment.
When a stock’s price exceeds a particular moving average, it’s a bullish sign, and vice versa. When a stock’s shorter moving average crosses over its longer moving average, it’s considered a “buy” signal for the stock.
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Energy Transfer Equity’s RSI (relative strength index) currently stands at 51.7. RSI is a momentum indicator measured by values between 0 and 100. Movements below 30 are considered to be in the “oversold” zone, and movements above 70 are considered to be in the “overbought” zone. Extreme RSI levels can hint at an imminent reversal in a stock’s price.
Energy Transfer Equity’s 30-day volatility of 25.9% is higher than the sector average of 21.8%. This difference could be due to the current decline in crude oil prices. ETE subsidiaries’, Energy Transfer Partners (ETP) and Sunoco Logistics Partners (SXL), have relatively high crude oil exposure through natural gas midstream and commodity acquisition and marketing businesses. ETE’s stock could stay volatile for some time, given the current uncertainty in crude oil prices.