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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