PBA - the rest of the resistanceNYSE:PBA
Energy has not been the best performing sector recently. However, the Oil & Gas Midstream still looks decent. PBA is one of the stocks from that industry that has a nice-looking chart.
Trade characteristics:
it's right on the long-term resistance that was broken and the price now clusters around it
volume has been declining steadily, picked up 14th Apr
the price is above all key VWAPs
if the former resistance / new support holds, there is a potential for a high move
risk trade as the energy sector keep showing weakness
I'm interested in buying it if it can get above $26.69 and hold that level, with a tight stop (since it's risky trade) below Friday's low.
Other interesting setups from the energy sector (but different industries) are: XOM, CVE, SU.
