EEQ is an energy stock that seems forming a fallen angel pattern recently. On the other side Energy sector seems breaking out of a downward channel & getting ready for a short term rally. Along with the Sectorial strength, EEQ seems an interesting Long set up.
* Trade Criteria * Date First Found- March , 2017 Pattern/Why- Fallen angel Entry Target Criteria- Break of $18 (Further update coming) Exit Target Criteria- Momentum Stop Loss Criteria- (Further update coming)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
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March 30th - Went upward & hit our entry criteria. Now wait & see.
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April 4th - closed above its 50 day SMA and it appears skies are clear. Looking good.
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April 11th- Seems rolling over, however still holding above Entry criteria. Updating stop loss criteria to $17.41.