PBA - the rest of the resistance

2021年4月18日

PBA
Energy has not been the best performing sector recently. However, the Oil & Gas Midstream still looks decent. PBA is one of the stocks from that industry that has a nice-looking chart.
Trade characteristics:

• it's right on the long-term resistance that was broken and the price now clusters around it
  
• volume has been declining steadily, picked up 14th Apr
  
• the price is above all key VWAPs
  
• if the former resistance / new support holds, there is a potential for a high move
  
• risk trade as the energy sector keep showing weakness
  

I'm interested in buying it if it can get above $26.69 and hold that level, with a tight stop (since it's risky trade) below Friday's low.
Other interesting setups from the energy sector (but different industries) are: XOM, CVE, SU.

2021年4月19日

交易進行

entry triggered

2021年4月27日

註釋

taking 1/3 off as it looks too overextended now

2021年4月27日

註釋

dividing sl into two: 1/3 to BE, 1/3 stays as it is now

2021年4月28日

註釋

moving the second SL to BE

2021年4月28日

註釋

splitting once again - 1/3's SL goes below today's low

2021年4月29日

註釋

selling another 1/3 as the breakout level has been reached.

2021年5月3日

註釋

moving sl of remaining 1/3 below 29.80 - solid support there

2021年5月3日

註釋

caution: earnings in 3days

2021年5月5日

註釋

moving sl to 30.60