Energy Transfer LP (ET) “On a long-term technical basis, the stock (ET) is trading below its 200-day moving average which generally implies it is in a negative trend. If the new level of support at 6.78 holds, look for a bounce to the next resistance level at 7.34. If the stock breaks up through resistance at 7.63 a positive trend change is being attempted. Look for a possible long-term rally to previous highs.

The stock has support at 6.78 and 6.24. If the stock breaks down through support at 6.78 then it will probably continue lower to 6.24. The stock has resistance at 7.34 and at 9.02. If the stock breaks up through resistance at 7.34 then it will probably continue higher to 9.02. The 200-day moving average is at 9.52. This will also act as resistance. The stock is slightly overbought according to the Stochastic Indicator (71.24).”