By Licia Leslie
July 24, 2024
Hi Shoppers,
Energy Transfer (Ticker: ET) has been consolidating or trading in a box range and looks ready to breakout to the upside:
I have pitchfork support holding at $16.24 and the 21 day moving average is sitting at $16.23.
Once the stock clears $16.50, I think it will trade $17.23.
Look how cheap the calls are for next week:
The 16.00 calls are $.40 cents in the money and they are offered at $.56.
Or even the $16.50 calls are very cheap.
As I said, wait for the stock to trade over $16.50 for a bit.
Trade Review
The Wells Fargo (Ticker: WFC) double top is not panning out here, it is holding support and may actually rally from here.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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