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| Energy Transfer Partners LP Stock Getting OverboughtBy Energy Stock Channel Staff, Friday, December 23, 3:48 PM ET
In trading on Friday, shares of Energy Transfer Partners LP (NYSE:ETP) entered into overbought territory, changing hands as high as $45.9501 per share. We define overbought territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be overbought if the RSI reading rises above 70. In the case of Energy Transfer Partners LP, the RSI reading has hit 70.4 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 52.1, the RSI of WTI Crude Oil is at 57.1, and the RSI of Henry Hub Natural Gas is presently 32.2. Investors could look at ETP's 70.4 reading as a sign that the recent heavy buying is peaking which could mean shares are due for a pullback. Looking at a chart of one year performance (below), ETP's low point in its 52 week range is $38.08 per share, with $55.50 as the 52 week high point — that compares with a last trade of $45.92. Energy Transfer Partners L P shares are currently trading up about 0.6% on the day.
According to the ETF Finder at ETF Channel, ETP makes up 1.00% of the Guggenheim Defensive Equity ETF (AMEX:DEF) which is trading up by about 0.8% on the day Friday. See what other ETFs contain ETP » ETP operates in the Oil & Gas Equipment & Services sector, among companies like Targa Resources Partners LP (NYSE:NGLS) which is trading flat today, and Sunoco Logistics Partners L.P. (NYSE:SXL) trading up by about 1.6%. Below is a three month price history chart comparing the stock performance of ETP, versus NGLS and SXL.
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