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What NuStar Energy’s Technical Indicators Suggest

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Jul. 13 2017, Updated 9:06 a.m. ET

NuStar Energy’s moving average

Most of the liquids transportation and storage MLPs are currently trading close to their historical moving average due to the recent volatility in commodity prices, and NuStar Energy (NS) is no different. The partnership was trading 3.7% above its 50-day SMA (simple moving average) and 2.6% below its 200-day SMA as of June 21, 2017. NS peers Buckeye Partners (BPL) and Kinder Morgan (KMI) are trading 0.6% and 7.9% below their longer moving average, respectively.

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Short interest in NuStar Energy

Short interest in NuStar Energy was ~3.1 million shares as of July 7, 2017. At the same time, its short interest as a percentage of float ratio was 4.8%, which is higher than the previous month’s average of 4.0%. A rise in short interest indicates an increase in short positions that haven’t been closed, which might indicate a bearish sentiment in NS. Moreover, short interest in NS is still lower than the one-year average of 5.2%.

In the next article, we’ll look into the recent institutional activity in NuStar Energy.

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