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QuantumMaster
Nov 19, 2020 4:40 PM

UGI retracing above wedge resistance Long

UGI CorporationNYSE

Description

It broke out of that wedge and it retraced. It tried to go back up but then was rejected two more times so far. I'm hoping to get in at $35.63. My risk is $34.25 which is not too bad.
I saw that there was a lot of insider buying at $33 about a month or two ago (according to Finviz).

I'm hoping that it breaks above that resistance line if it does go back up.

Comment

Alright I got in

Comment

UGI is doing pretty well. I had a partial sell at $37
I'll enter another small sell order at $39

Comment

Hmmm

Trade closed manually

Welp time to get out. Looking very weak

In total lost about 0.7% which is actually pretty good. My initial prediction was somewhat correct but my exits were terrible.
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