What's behind Energy Transfer's latest stock pullback?

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Energy transfer slides 2.5% today

Highlights

Shares of Energy Transfer fell 2.5% to $19.89 after opening with a slight upside gap and now trade near the session low.
The stock is trading below near-term moving averages but remains above the longer-term average, indicating sustained long-term support amid immediate downward pressure.
Technical indicators show selling momentum with a 57% probability of a move lower; price is expected to consolidate in the $19.71 to $20.64 range over the next five days.

Anton Kharitonov, expert at Traders Union, notes that Energy Transfer LP faces mounting short-term selling pressure. The technical landscape is fragile, with price failing to reclaim both 20-day and 50-day averages. He adds that momentum shows sellers are firmly in control, while recent absence of positive news weighs on sentiment. Caution is warranted, as a breach below $19.71 could accelerate downside. "Given the lack of supporting news and persistent technical weakness, I remain skeptical of any near-term rebound for ET."

Viktoras Karapetjanc, expert at Traders Union, sees the current consolidation as a setup for future opportunities. While Energy Transfer trades below short-term averages, its resilience above the 200-day moving average supports a constructive long-term view. He emphasizes that the 57% probability of additional downside is offset by the solid buffer at $19.71, allowing patient investors to pursue accumulation strategies. "Despite recent selling pressure, the market offers setups for trend continuation, and I expect bullish structure to reassert itself if $20.64 is reclaimed."

Jainam Mehta, market strategist, observes that Energy Transfer remains above its 200-day average despite a short-term pullback. He sees volatility as a potential tactical entry point if support at $19.71 holds. A failed retest or sharp move below this level could invite contrarian trades on oversold conditions. "If bearish momentum starts to fade near support, I would look for a tactical rebound toward $20.64."

Near-term weakness persists amid bearish momentum and technical support

Energy Transfer is trading below both its 20-day ($20.56) and 50-day ($20.87) moving averages, but remains above the 200-day moving average ($19.4), signaling near-term weakness amid persistent long-term support. The initial resistance is set at the week’s low of $20.23, with nearest support at $19.71. Momentum indicators reveal a cautious short-term setup: both the MACD and ADX indicate ongoing selling momentum, while the RSI is at 41.51—skewed toward oversold conditions—and the Stochastic RSI is elevated at 70.74, highlighting a strong sell signal. The BBP is slightly positive at 0.16, showing buyers maintain a marginal intraday edge. The CCI and Awesome Oscillator remain neutral, while intraday volatility stands at 1.58%. Price action showed a downward trajectory after a higher open, consistent with the bearish momentum readings.

Earlier, analysts noted that a bullish technical outlook for Energy Transfer was dependent on sustained short-term momentum and key levels holding. The current shift to a bearish near-term setup signals that traders should monitor the $19.71 support closely, as a move below this threshold could expose the stock to further downside risk.

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

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