Atlas Energy Group, LLC, through its subsidiary, Atlas Resource
Partners, L.P., develops and produces natural gas, crude oil, and
natural gas liquids in the United States. It operates through three
segments: ARP, New Atlas, and corporate and other. The company has
interests in oil and natural gas properties in the Eagle Ford Shale in
South Central Atascosa County, Texas, including 4,000 operated gross
acres and net reserves of 12 million barrels of oil equivalent. As of
December 31, 2014, it had interests in approximately 600 wells in the
Arkoma Basin in eastern Oklahoma with average daily production of 5.1
million cubic feet equivalent. The company is also involved in the
terminalling, storage, throughput, and transloading of crude oil and
petroleum products in the East Coast, Gulf Coast, and Midwest regions.
Take a look at the 1-year chart of Royal (NYSE: ATLS) with the added notations:
Like most energy related stocks, ATLS fell on hard times starting
from the summer of last year. The stock tried to find support at $7.50,
but that price eventually gave way to new lows as well. However, on
Friday ATLS actually broke back above that prior level of support at
$7.50. That break should mean higher prices for the stock in the
short-term, at minimum.
The Tale of the Tape: ATLS had a key level of
support at $7.50 that it has now broke back above. A trader could enter a
long position at $7.50 with a stop placed under the level. If the stock
were to break below $7.50 a short position could be entered instead.
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