Mid-Con Energy Partners LP (MCEP)
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
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
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)
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
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
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
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
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:
The current support levels are:
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 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.
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.