Profit_Link
Long

WES - Potential Inverse H+S - $9.00 Target

NYSE:WES   WESTERN MIDSTREAM PARTNERS LP
Quick pattern update here.

WES appears to have an Inverse H+S pattern forming on the lower timeframe.

A clean break from the pattern would target the $9.30 range, setting a conservative exit, with a close below the purported right shoulder would minimize potential for losses.

WES has been one on my list for a while lately and I recently closed a position for over 170% gain.

The news surrounding oil prices is negative, however WES is a refiner not a producer, so WES , if anything would have benefited (in the short-term) with the negative May contract prices.

I may look to do a more detailed write up on WES in the coming day or so, concerning position details.


-TradingEdge

Comments

wow, i just came across this chart -- honestly probably one of the best calls i have seen.
+1 Reply
Profit_Link seandavidson3
@seandavidson3, Thank you, it was a very nice trade.
Reply
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