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AltaGas Ltd T.ALA

Alternate Symbol(s):  ATGAF | AGASF | ATGFF | T.ALA.PR.A | T.ALA.PR.B | T.ALA.PR.G | T.ALA.PR.H | ATGPF

AltaGas Ltd. is a Canada-based energy infrastructure company that connects natural gas and natural gas liquids (NGLs) to domestic and global markets. The Company’s segments include Utilities and Midstream. Its Utilities segment owns and operates franchised, rate-regulated natural gas distribution and storage utilities, which includes four utilities that operate across five United States jurisdictions. It Utilities segment also includes storage facilities and contracts for interstate natural gas transportation and storage services, as well as the affiliated retail energy marketing business. Its Midstream segment includes global exports, which includes its two LPG export terminals; natural gas gathering and extraction, and fractionation and liquids handling. Its Midstream segment also consists of natural gas and NGL marketing business, domestic logistics, trucking and rail terminals, and liquid storage capability. Its subsidiaries include Wrangler 1 LLC, WGL Holdings, Inc. and others.


TSX:ALA - Post by User

Post by BSdetector2016on Apr 27, 2021 1:04pm
258 Views
Post# 33075042

Surprised about the selling?

Surprised about the selling?@marketsense: There should be no reason to be surprised about the selling the recent run-up has generated. The stock is Overbought, which means the technical algorithms will kick in and selling begins. Large holders like funds do this and buy back in lower later on. Then there is selling pressure from retail that wants to get out, again using technical indicators to plan their price points. I doubt that there will be sustained selling pressure until after earnings, especially if the price spikes a bit and the stock gets even more Overbought. It's also a month-end rotation for many players so there's that to consider as well. The only stocks that can really defy Overbought indicators are growth stocks, and AltaGas is hardly that.
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