$MPLX (MPLX LP) - Long Setup

Trading Idea: MPLX (MPLX LP) - Long Setup
🎯 Idea: LONG
⏰ Timeframe: Daily
📊 Pattern: Bullish Continuation + RSI2 Connors Buy Signal

Fundamental Context:

Fundamental Score: 4/9 (Neutral).

Business: Energy Infrastructure & Logistics (MLP).

Yield: Attractive Dividend Yield (not shown in data, but typical for sector).

Valuation: Undervalued on P/E; Overvalued on P/B and P/S.

Debt: Moderate (Debt Score: 5/10). Common for midstream companies.

Technical Setup:

Trend (D1): Bullish ✅

Catalyst: Recent RSI2 Connors Buy Signal (oversold bounce in uptrend).

Entry: $51.08 (Current level post-signal).

Stop Loss (SL): $49.16 (Below key support & the 20-period SMA).

Take Profit (TP): $55.01 (Previous resistance target + Measured Move).

Momentum: MACD positive and above signal line, supporting upward move.

Risk Management:

Risk/Reward (R:R): 1:2.0

Position size accordingly. Ideal for income-focused portfolios.

Summary: Buying the oversold bounce in a steady bullish trend, targeting a move to new highs for both capital appreciation and dividend income.

⚠️ Disclaimer: Not Financial Advice
This analysis is for educational and informational purposes only. It is NOT a recommendation to buy or sell any security.

Conduct your own research (DYOR) before making any investment decisions.

You are solely responsible for your own trades and investments.

Past performance is never indicative of future results.

Trading involves significant risk of loss and is not suitable for all investors.

MLPs have unique tax implications (K-1). Understand these before investing.

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