Mid-Con Energy Partners LP (MCEP)

MCEP stock forecast: buy or sell

MCEP stock outlook

  • Mid-Con Energy Partners LP stock collapsed -4.85% to close at $2.94 on the stock market today, after 4 consecutive sessions in green.
  • The stock is configuring an uptrend pattern since late March, when it bottomed at $1.20. Up to date, price marked a 145% profit since the beginning of this rally
  • Mid-Con Energy Partners, LP engages in the acquisition, ownership, and development of producing oil and natural gas properties in North America.
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Disclaimer:
The thoughts expressed in this article are personal and should not be followed as recommendations for you to buy or sell shares. The author of this report does not have any knowledge of the specific circumstances 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 Thoughts are provided for informational motives only

MCEP stock chart overview

Should I buy Mid-Con Energy Partners LP stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. 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 MCEP will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

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Should I sell Mid-Con Energy Partners LP stock?

"To sell or not to sell", if you are holding Mid-Con Energy Partners LP shares?. Trading strategies allow us to avoid impetuous decisions based on our emotions or the buzz surrounding the market. When selling, as well as buying, detailed setups are very easy to follow and are only applicable for selling shares in your porfolio, not for selling short Mid-Con Energy Partners LP stock

A guiding principle is that you should never mantain a trade that leads to greater losses than those expected by the time of purchase. When to sell shares always has to be determined by the stop-loss (automatic or manual)

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

Currently, Mid-Con Energy Partners LP stock doesn't match any of our preferred sell setups, so if you hold Mid-Con Energy Partners LP shares and your operation is in profit probably is not time to sell now

Price lost SMA50 level

Mid-Con Energy Partners LP shares' price gained 13.58% in 3 weeks during the time it was above the 50-day MA. Yesterday, the price broke through the 50-d simple moving average indicating that the previous rising trend may have ended. For medium-term investors who profited from the gains during the time the price was above the average, this signal should be a wake-up call and a trigger to sell the stock and get their profits

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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

We don't have any rating published in the previous month for Mid-Con Energy Partners LP

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Technical analysis

Since in late March, Mid-Con Energy Partners LP has been printing an uptrend that so far marked a gorgeous 145%. The chart shows rising highs and lows, and along the way gave very few buying opportunities for those who wanted to invest. Latest low was in mid-May, when price bounced at $1.80. Now, it trades in a consolidation between its last top ($8.42) and its last bottom ($1.80)

SMAs overview

A favorite tool of many technical analysts 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). Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days

Supports and resistances

Market investors use support and resistance levels as a way to identify price points in the stock price action that tend to act as glass ceiling, preventing the price of a stock to move up or down. Supports are levels where the price may stop as it falls. This means that the price is more likely to "bounce off" this level rather than break through it. Nevertheless, if the price breaks down this level, it will probably continue falling until finding another support level. On the other hand, resistance levels are where the price tends to find resistance as it rises. Likewise, this means that the price is more likely to "bounce off" at this level, and if it finally breaks this level, it will climb more easily until it finds the next resistance

The current resistance levels are:

  • R1: $81.00 (2655.1% above)
  • Price is at lows and there are not lower supports.

    Bollinger bands

    So-called Bollinger bands are a widely known practice introduced by John Bollinger. In essence, the Bollinger Bands are lines that move around a centralmoving average, varying the distance from the bottom to the top depending on market volatility. They are usually plotted by an offset of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20

    Relative strength index

    The relative strength index (RSI) is a technical indicator used in the analysis of stock markets. Its objective is to plot the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period. Oscillator indicators, such as relative strength, are intended 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 stock traders

    The RSI dropped below the overbought level of 70 on June 17 after just crossing to the overbough zone for 1 day (weak signal). The RSI reading yesterday was 44.41. Since then, Mid-Con Energy Partners LP stock tanked a 47.03%

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    Earnings and financials

    Mid-Con Energy Partners LP (MCEP) posted quarterly earnings of $-0.14 per share, grossly undercutting the Wall St consensus estimate of $0.08 per share. This quarterly report means an earnings surprise of -275%. Company's revenue resulted of $38.5 million versus $13.0 million forecasted by market consensus.

    Compared to the same quarter last year, EPS was $0.24, so reported EPS is a loss of -158.33%. Turnover skyrocketed a 1173.51% on an annualized basis in the 1st-quarter, from $3.0M to $38.5M last quarter.

    MCEP releases earnings report on late next July. Market analysts analysts estimate a per-share earnings of %s of $0.07, that is a 150% higher than previous quarter. If you own or you are planning to buy MCEP shares, you must be on alert as the earnings reporting day usually has a higher than usual volatility, and price can soar and sink with very low liquidity and not honouring your buy/stop-loss orders. It's always good to review company's website to confirm time and details about the earnings call and the earnings report.

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