Mar. 11 at 6:47 PM
$ET — Energy Transfer LP bouncing hard off ascending trendline support with volume.
Multi-year megaphone structure intact. Lower trendline from
$13.53 lows held perfectly. Price recovered nearly
$3 to
$18.74. RSI curling up from oversold.
Now pressing into
$18.63–19.00 resistance — prior ATH zone. Break above
$19.55 opens the upper channel toward
$22 →
$25 →
$27.
Bull case:
$19.00 clears →
$19.55 ATH → new highs → upper channel target
$22–27.
Bear case:
$18.03 fails →
$17.35 →
$16.50 trendline retest.
Fundamental kicker: ~8-9% dividend yield at current price. Midstream pipeline infrastructure. Tariff-immune. Cash flows don’t care about trade war.
While tech names navigate tariff uncertainty, ET collects tolls on pipelines regardless of macro.
$19.00 reclaim is the trigger.
#ET #EnergyTransfer #MLP #energy #hovdid
