Pembina Pipeline Corp.
Long
Updated

PBA - the rest of the resistance

100
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.
Trade active
entry triggered
Note
taking 1/3 off as it looks too overextended now
Note
dividing sl into two: 1/3 to BE, 1/3 stays as it is now
Note
moving the second SL to BE
Note
splitting once again - 1/3's SL goes below today's low
Note
selling another 1/3 as the breakout level has been reached.
Note
moving sl of remaining 1/3 below 29.80 - solid support there
Note
caution: earnings in 3days
Note
moving sl to 30.60

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