September 26 Chart of the Day - Plains GP Holdings
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Plains GP Holdings (PAGP) is a publicly traded entity that owns a non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America.
Truthfully, before today we never heard of them but saw some news headlines regarding them so thought we'd take a look at the chart.
First glance was nothing spectacular as can be seen on the monthly timeframe.
But moving down to the weekly we can see active price structure that recently broke out.
And more times than not, when price on a chart breaks out it's not uncommon to get a "break and retest" of previous price structure.
With that in mind we set out to determine levels of interest in both directions.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones,
- Change Control Zones
Take a look at the charts and let us know what you think.
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