AmeriGas Partners is showing an overbought situation and a pullback towards the USD 40.85 support could occur in the next trading sessions.
Graphically, the stock went through a period of rebound in recent sessions towards the USD 44.85 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the USD 40.85 support area which will be a bearish objective.
Due to the technical configuration, investors can open a short position close to the USD 44.85 resistance. The price target is set at USD 40.85 and a stop loss will be placed above USD 44.85.
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Distributes propane gasAmeriGas Partners LP operates as a holding company, which engages in the distribution of propane and related equipment and supplies.Its products serve the residential, commercial, industrial, agricultural, and motor fuel propane customers.The company was founded on November...