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Mid-Con Energy Partners LP (MCEP)

MCEP stock forecast: buy or sell

Close on Sep 28th, 2020
$2.65 0.02%
3 months performance
-0.31%
Published: September 29th, 2020 - 4.35am EDT

MCEP stock outlook

  • Mid-Con Energy Partners LP closed yesterday at $2.65 (1.53%) prior to presenting financial results at
  • Looking at the chart, price is drawing an scaled downtrend since mid-June with lower tops and lower bottoms. shares price lost a -68.53% since the downtrend started.
  • Mid-Con Energy Partners, LP engages in the acquisition, ownership, and development of producing oil and natural gas properties in North America.

Important:
The viewpoints contained in this post are personal and not recommendations for you to buy or sell stocks. The author of this paper does not have any knowledge of the particular scenarios of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are published for educative motives only

MCEP stock charts

Should I buy Mid-Con Energy Partners LP stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is MCEP stock a buy?

Currently, Mid-Con Energy Partners LP stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for MCEP in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems

Should I sell Mid-Con Energy Partners LP stock?

When you own a stock with some profit, it's really difficult to decide the good moment to sell and get your benefits. Similarly to when we have to buy shares, determining when is appropiate to sell is not a whimsical decision, and we must use our own trading strategy. We like very simple strategies to guide us on when is a good moment to sell a stock. Be aware that these strategies should not be used for selling short MCEP stock

A guiding principle is that you must never mantain an open trade that yields losses greater than those expected by the time of purchase. When to sell shares must always be dictated by the stop-loss (automatic or manual)

Is it time to sell Mid-Con Energy Partners LP stock?

In the current situation of Mid-Con Energy Partners LP there is not any eligible sell setup, so Mid-Con Energy Partners LP stock holders with operations in green can keep their positions

Analysts' recommendations to buy or sell Mid-Con Energy Partners LP stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last month we couldn't find any rating for Mid-Con Energy Partners LP

Technical analysis

From a technical standpoint, Mid-Con Energy Partners LP continues trending lower since mid-June, and has lost a -68.53%. Like in all downtrends, the stock oscillates drawing lower tops and bottoms. In this case, we have seen 3 consecutive lower tops

SMAs overview

A favorite tool of many traders are the moving averages, that easily show trend momentum. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Moving averages are usually calculated on different periods depending on the trading timeframe 21, 50, 100 and 200 days are the most usual moving averages

MCEP SMAs chart

Supports and resistances

Market investors use support and resistance levels to identify price points on a chart that tend to behave as barriers, containing the price of shares to move up or down. Supports are levels where the price tends to stop as it falls. This means that the price is more likely to "rebound" this level rather than break through it. However, if the price breaks down the support, it will probably continue declining until finding another support level. On the contrary, a resistance level is where the price may find resistance as it moves up. In the same manner, this means that the price is more liable to "bounce off" at this level, and if it finally ruptures this level, it will rise more easily until it approaches the next resistance

The current resistances are:

  • R1: $2.81 (6.04% above)
  • R2: $2.85 (7.55% above)
  • R3: $4.20 (58.49% above)
  • The current support levels are:

  • S1: $2.22 (-16.23% below)
  • S2: $1.80 (-32.08% below)
  • S3: $1.20 (-54.72% below)
  • Bollinger bands

    So-called Bollinger bands are a widespread practice designed by John Bollinger. It is composed of 3 bands that are plotted superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    MCEP RSI chart

    Relative strength index

    The Relative Strength Index is an oscillator-type indicator that gauges price changes to reveal when the share or financial asset is oversold or overbought. Oscillator indicators, such as relative strength, are designed to indicate values in the range of 0-100. J. Welles Wilder introduced the relative strength indicator in 1978 and since then it has been widely used by traders

    The relative strength (RSI) has been between the levels of 70 and 30 for several weeks, and therefore, without this indicator really being of any help to us in making any decisions.

    MCEP RSI chart

    Earnings and financials

    Mid-Con Energy Partners LP (MCEP) posted EPS for the fiscal second-quarter that considerably worsened Market expectations. Quarterly EPS was $-0.14 per share vs. $0.08. This Q2 report means an earnings surprise of -275%. Company's turnover was $5.4 million versus $13.3 million estimated by market consensus.

    Same quarter last year, reported EPS was $1.40, so current EPS is a drop of -110%. Looking at sales, figures dropped a -66.96% compared to $16.3M same quarter a year ago.

    MCEP is posting financial report. If you own or you are considering buying MCEP stock, be aware that the earnings reporting day usually has a very high volatility, and price can gap up or down with unsually low liquidity and not respecting your buy/stop-loss orders. Check company's website to confirm time and details about the earnings call and the earnings report.

    MCEP revenues and profits chart