NGAS: Keep an eye on support here

Feb 18, 2017

NGAS could resume the uptrend here, and might be an interesting setup if we get a bottoming pattern in the daily chart. I took a small risk aggressive long on Friday, and will monitor it to reenter if stopped, if this trade remains valid. Upside is significant, close to $5, in the long run, but it might a while to base around here firs, which would be a great thing to observe take place within the next 3 weeks.

If for some reason we are to break support, we could see rapid fall to the low volume support level outlined in green. If we do test that, that'd be a low risk long opportunity, and also a do or die situation for bulls, so, don't hesitate on going long with a tight stop if that level is retested. In this timeframe on chart, I'd like to see the bar close above support, and form a smaller range bar, and eventually break a previous bar high, before rallying again. This can take the shape of a consolidation after a rapid spike in the daily, which would be great, since it would give us further low risk long opportunities.

Cheers,

Ivan Labrie.

Feb 21, 2017

Note

Support isn't holding, I don't see a clear long entry here yet. I'm flat.

Feb 23, 2017

Trade active

Bam the strongest support -green box- held!
I'm long from near the low.

Feb 23, 2017

Note

Bam, we 100% nailed this.

Holding with break even stop. I'll add on dips with a tight stop.

Nice extra confirmation: bloomberg.com/news/articles/2017-02-23/u-s-gas-pain-train-may-chug-along-as-spring-fever-grips-bears

'Contrarian headline' signal.

Mar 2, 2017

Trade closed manually

Banked for now. Will reenter on dips, or if we break the resistance above.

Mar 6, 2017

Note

We broke the resistance, so, we reenter longs on dips after today's close.

Mar 21, 2017

Trade closed manually

It's better to wait until July or maybe the end of the year to try to catch a rally in NG.