Daniel.B

Strong Volume Breakout *Keystone Pipeline*

Long
NYSE:TRP   TC Energy Corporation
3
Transcanada Corp . has prepared re-application for the keystone pipeline after the U.S. President's executive order reviving the pipeline.

Hi Traders,

Well today was an wild ride in the markets. I ended up covering my short positions spread across the financial sector that I entered a while back. Most financials held their 50 Day Moving Average. But hey, I'm always willing to switch my market views incredibly quickly when the market signals that I may be in fact wrong.

Now to the technical analysis for TRP .
Moving Averages
% Off 50 MA: +6%
% Off 200 MA: +8%

Volume
+320% Above 50 Day Average

Support / Resistance
Supp: $47.42 ; 61.8% pivot
Res: $52.00 ; 78.6% pivot

Price broke out on incredible above average volume , breaking above two major pivots and trading strongly into the closing bell. My expectation is for it to continue heading towards the immediate resistance levels mentioned above.

Trade smart, and with a plan.

Cheers. =)


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