AGR. Range Breakout

auray2307 Updated   
NYSE:AGR   Avangrid, Inc
AGR broke above 48.50 price level. Possible Long entry with ~2:1 ratio.

Key points:
  • Range from January 2022 to July 2022
  • 48.50 breakout
  • Pullback
  • Increased volume
  • Extension to the primary direction of the breakout

Profit Target could be around 55 or higher if the breakout happens, initial Stop Loss around 47.50.

Trade closed: stop reached:
Unfortunately the forecast was wrong and SL triggered for the trade.

Looking back for the mistakes I can define the following:

48.50 breakout have been followed by divergence what is a sign of price weakness


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