RE:ARX’s Suffering resistanceAre you using technical analysis for this one russ? Just kidding. I like following technicals too.
The problem is they do not supersede fundamentals which are providing numerous tailwinds ATM.
Also looking at the chart, it seems to me that ARX is not having trouble breaking the $27 resistance but is just following the uptrend channel that it finds itself trading in.
For a triple I haven't seen it touch the $27 resistance 3 times yet but I guess it could moving forward. It seems like everytime it falls it is after touching the upper limit of the upper trend line channel even when it spiked in August and never touched $27. We'll see if next time is different.
I'd rather focus on the positive technicals like the upward trend channel that the share price is trading in and is not narrowing fast at all.
https://ca.marketscreener.com/quote/stock/ARC-RESOURCES-LTD-1408918/graphics/ Also I like the look of the Max or 10 year chart that shows a cup and handle formation that doesn;t appear to be played out yet.
https://www.google.com/search?q=arx+tsx+stock+price&rlz=1C1CHBF_enCA874CA874&oq=arx&gs_lcrp=EgZjaHJvbWUqDggCEEUYJxg7GIAEGIoFMgYIABBFGDwyCAgBEEUYJxg7Mg4IAhBFGCcYOxiABBiKBTIPCAMQRRg5GIMBGLEDGIAEMgYIBBBFGDsyBggFEEUYPDIGCAYQRRg8MgYIBxBFGDzSAQkxMTg4MmowajeoAgiwAgE&sourceid=chrome&ie=UTF-8 I personally believe that ARX will make new ATHs in 2025. It is only another 20% from here.
GLTY and ALL ARX BULLS
ReitsRus wrote: ARX is having a hard time breaking resistance and closing above the 52 Week High, surely this just needs a Push once it Breaks Out then it's clear sailing but I do get worried when a Stock can't break through creating a triple top. Maybe I'm reading into this too much. Maybe we just need Februarys Earnings to give this another 10% lift to $30 bucks!