Enterprise Products Partners could regain its upward trend after having run out of steam.

The company based in Houston shows strong fundamental qualities. First of all, we can point out a constant growth in revenue which should stand at USD 47 billion, in comparison with USD 42 billion for last year. Moreover, the analysts consensus following the security are 19 out of 22 to recommend a buying position and have set, an average target price at USD 68.

Graphically, buyer flows are reduced. The contact of the upper limit of the bullish channel stopped the progression of the stock. A consolidation phase lead it towards the USD 60.7 short term support. This major level should allow a technical rebound, helped by the 100-day moving average. Eventually, Enterprise Products Partners shows an oversold situation underlined by RSI indicator.

A decline seems impossible under the USD 60.7 area. It could be a basis for a purchase to target USD 64.9. A stop loss will be fixed below the entry point to limit the risk.