Rangebound trading for Energy Transfer stock as price remains near $19.19 resistance

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Energy Transfer slides 0.16% today

Highlights

ET maintains a bullish technical structure across all observed timeframes, supported by strong price action above key moving averages.
Near-term indicators show buyers have an advantage, but trend strength is muted and some oscillators are turning neutral.
ET is expected to trade sideways within the $19.00–$19.25 range over the next week, with upward probability exceeding 80% if resistance at $19.19 breaks.

Buy momentum moderates as signals turn neutral near resistance

The price of ET remains above the MA-20 ($19.03), MA-50 ($18.92), and MA-200 ($17.61), with the Ichimoku Kijun on D1 positioned at $19.19 as near-term resistance. MACD on D1 issues a mild buy signal, while ADX D1 is neutral, reflecting weak trend strength. RSI is just above midpoint at 52.97 with a buy signal; CCI and Stoch RSI are both neutral, with the latter near the upper bound. Bull/Bear Power (BBP) is positive at +0.24, indicating intraday buyer dominance, and volatility remains low within today's $19.04 – $19.25 range.

Consolidation likely as breakout and pullback triggers approach

Over the next five trading days, ET is expected to remain within a typical volatility band of $19.00 to $19.25. The probability of an upward move is assessed at more than 80%, while a downside scenario remains less likely. Baseline outlook sees consolidation near current levels; a breakout above $19.19 could bring the upper end of the range into focus, while a drop below $19.03 would increase the risk of a short-term move lower.

Anton Kharitonov, expert at Traders Union, notes that ET remains technically supported above key moving averages, but momentum is lackluster and trend strength is weak. He sees cautious sentiment, with indicators split between mild buy and neutral signals, and low volatility capping potential upside. Kharitonov believes the $19.19 resistance is critical for any bullish outlook. "Base case is sideways action near $19.00 – $19.25, and I remain defensive until price decisively clears $19.19 on strong momentum."

Earlier, analysts noted that Energy Transfer was exhibiting persistent bullish momentum as technical indicators suggested a potential upside bias. The current setup reinforces this outlook by maintaining price action above major moving averages and highlights the $19.19 level as a pivotal barrier, with a breakout signaling renewed upward momentum in the near term.

Source of Data: ET Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.