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Summit Midstream Partners LP (SMLP): Price Now Near $36.47; Daily Chart Shows An Uptrend on 100 Day Basis

This move is a reversal from the day prior, which saw price move up. The post Summit Midstream Partners LP (SMLP): Price Now Near $36.47; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News. ...

The Hourly View for SMLP

At the moment, SMLP (Get Ratings)’s price is down $-0.38 (-1.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

SMLP ranks 69th in terms of today’s price percentage change out of Utilities stocks.

SMLP’s Technical Outlook on the Daily Chart

Currently, SMLP’s price is down $-0.21 (-0.57%) from the day prior. This move is a reversal from the day prior, which saw price move up. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. Of note is that the 50 day changed directions on SMLP; it is now pointing up. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Summit Midstream Partners LP’s price action over the past 90 days can be seen via the chart below.

SMLP

<SMLP's volume of shares traded is 4576; this is 79.75% lower than that of its 7 day average.

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SMLP: Daily RSI Analysis

  • For SMLP, its RSI is now at 16.9643.
  • SMLP and RSI both have consistent trends, as they are both heading down.

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The post Summit Midstream Partners LP (SMLP): Price Now Near $36.47; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.

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