Wall Street Analyst Update on Shares of Noble Midstream Partners LP (:NBLX)

Analysts often provide buy/sell/hold recommendations for companies that they cover. Investors have the ability to follow these sell-side ratings in order to assist with stock analysis. Wall Street analyst ratings may have various interpretations. According to analysts taken into consideration by Zacks Research, the current average broker recommendation on shares of Noble Midstream Partners LP (:NBLX) is currently 1.67. This rating lands on a scale between 1 and 5. Following this scale, a rating of 1 would indicate a Strong Buy, and a rating of 5 would indicate a Strong Sell recommendation. Out of all the analysts providing ratings, 4 have rated the stock a Strong Buy or Buy, according to Zacks Research. 

Technical traders may be following indicators to help spot possible entry and exit points. The two main types of indicators are lagging and leading. The leading indicator precedes stock price movements which can be used as a predictor. Lagging indicators may be used as confirmation as they follow price action. Lagging indicators may be highly useful when the market is trending, and leading indicators may be the strongest when the market is moving sideways. Indicators that stay within a certain range are referred to as oscillators. These common indicators are usually monitored for trading signals when the reading gets close to a specific level. 

Taking a quick look at the current quarter EPS consensus estimate for Noble Midstream Partners LP (:NBLX), we can see that the most recent level is sitting at 1.01. This EPS projection uses 3 Sell-Side analysts polled by Zacks Research. For the previous reported quarter, the company posted a quarterly EPS of 1. Covering analysts have the tough job of following companies and offering future estimates. These estimates are often closely followed on the Street, and earnings beats or misses revolve around these projections. Sometimes these predictions are extremely close to the actual reported number, and other times they may be way off. When a company posts actual earnings numbers, the surprise factor can lead to sudden stock price fluctuations. If a company meets and beats estimates and posts a positive earnings surprise, the stock may see a near-term bump. On the other end, a negative surprise may send the stock in the opposite direction. Many investors will choose to trade with caution around earnings releases and wait to make a move until after the major activity has subsided.

Zooming in on recent stock price action for Noble Midstream Partners LP (:NBLX), we note that shares are trading near the 35.41 level. Investors will often follow stock price levels in relation to the 52-week high and low levels. The 52-week high is presently 54.45, and the 52-week low is sitting at 27.15. When a stock price is getting close to either the 52-week high or 52-week low, investors may track activity to watch for a move past the established mark. Over the last 12 weeks, shares have seen a change of 22.78%. Heading further back to the start of the year, we note that shares have seen a change of 22.78%. Focusing in closer to the last 4 weeks, shares have seen a change of 0.37%. Over the past five trading days, the stock has changed -8%.

Traders using technical analysis typically believe that all the needed information to trade a specific stock can be spotted in the charts. These traders are generally taking a shorter-term view when studying the market. Technical analysts are usually striving to spot the directional trend of a stock. Trends may be noted as upward, downward, or sideways. Many technicians will rely heavily on support and resistance levels in order to make informed decisions when buying and selling equities. These traders are also closely watching volume levels to help gauge activity. Traders are constantly searching for patterns in the charts. There are many different identifiable patterns that traders can look for. Some of these include head and shoulders, triangles, and double tops/bottoms.