Altus Midstream looking to sail down a waterfall again. ALTMZigzag in formation we surmize. This assumes the greatest drop out of all Elliott described patterns, and most profit by extension. Assuming this is infact a zigzag that we believe that it is.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
Altus
30/08 BTC/USDT ANALYSIS - ALTUS.FINANCEGreetings TradingView!
We are observing something really great here, Bitcoin has been trading in an ascending channel since the 20th of July. Today, just a very short time away from the monthly close and we are experiencing great market indecision as we continue to trade within a tight symetrical triangle. Its difficult to say where the price will go from here as that is the nature of this charting pattern but what we do know is that we are in a clear uptrend, our stance is short term neutral and long term bullish.
Bitcoin has been making a series of higher highs and higher lows, its on track to retest $50,000 once again, next week.
Happy Trading!
ALTUS
ALTM On Track For Move Up! Company Info:
Altus Midstream Co, formerly Kayne Anderson Acquisition Corp., is a pure-play, Permian Basin midstream C-corporation. The Company owns gas gathering, processing and transportation assets in Alpine High, an unconventional resource play in the Delaware Basin. The Company also owns options for equity participation in five gas, natural gas liquids (NGL) and crude oil pipeline projects from the Permian Basin. Its assets includes 150 miles of transmission and gathering pipelines, compressor stations, mechanical refrigeration units, cryogenic units and associated gas treatment facilities.
Latest News:
Altus Midstream (NASDAQ: ALTM) is building out midstream infrastructure in the Permian Basin to support the growth of its oil and natural gas producing parent, Apache (NYSE: APA). The company is investing in long-haul pipelines as well as constructing new natural gas gathering systems and processing plants. This infrastructure will help move what Apache extracts to market centers along the Gulf Coast. As these assets enter service, they'll supply Altus with steady cash flow backed by long-term contracts with Apache and other customers.
Given the number of midstream assets Altus and its partners have under construction, the company is on track to significantly grow earnings over the next two years. That upcoming upside makes it one of the most compelling growth stocks in its sector. (Source: finance.yahoo.com)
Short Interest:
5.37M 06/28/19
P/E Ratio (with extraordinary items)
235.41
Average Analyst Price Prediction: $5.88
Recommendation Overweight (Update Required)
