looks like someone pushed UGP from a cliff (-1)

NYSE:UGP   Ultrapar Participacoes S.A. (New)
This company was consolidating nicely above the 18$ mark but then something unexpected happend. in less then 8 months the stock lost 10 billion (2/3) of its value. When something is going down this rapidly its very risky to buy a dip

Timing = -1 ( the market is running up and this company is going down)
Volume = -1 ( The volume is massive on this crash & it doesnt appear to be calming down)
Group strength = -1 (the industry is going great & the market is running up but this company is going down that makes the stock very weak)
Entry = 1 ( the only reason i post this chart is because i like the entry. ABCD pattern completted near a nice support number 9$-10$ mark)
Fractal = 1 (fractals support a reverse )

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.