coolingla
Long

Possible GEO formation, wait for pull back before long

NYSE:CEQP   CRESTWOOD EQUITY PARTNERS LP
27 1 1
This is my attempt to learn GEO             formation from 4xForecaster, he is the Man!

CEQP is highly undervalued from a fundamental prospective, however, the overall market condition is not helping. Some legal issues are supposed to be sorted out in 2 weeks. By that time, the market could be in a very bad mood.

The 3/31/2016 deadline past and many buyers got disappointed. In the next 2 weeks CEQP will likely pull back to $9.50 support area and possibly even lower. A perfect buy and hold stock anywhere below $10.
coolingla PRO
7 months ago
I didn't wait until it retraced to $9s to jumped in. After careful analyzing the chart, I concluded it's under careful accumulation. Entered most positions between $10 and $11.

Sold all of my position between $17.60 and $19.20. Still a bargain for long term investors but no longer among the very best deals in the market. Will re-enter if it retraces back to $15 (very likely in the next 2 months).

Target in 12 months: $25-$30.
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