ARC Resources Ltd T.ARX

Technical Analysis

[retiredcf]

On Sept. 17, 2021 ($10.03) we reported a potential breakout and suggested that a rise above $10.00 would signal targets of $11.50 and $12.50. ARC Resources (Friday’s close $18.00) reached $13.34 in November (A), had a minor correction to the end of the year (B) and on January 21, 2022 ($13.03) we proposed higher targets of $15.50 and $16.50. The stock had a sharp rise to $22.88 in June of this year for a 128-per-cent gain since our first report (C).

ARC Resources recently corrected toward its 40-week Moving Average (40wMA) and the rising trendline (solid line – D) and appears ready to resume the uptrend; a sustained rise above $18.00-18.50 would confirm it.

There is good support near $14-15; only a sustained decline below this level would be negative.

Point & Figure measurements provide targets of $23 and $25. Higher targets are visible.

STOCK

Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication

[Quintessential1]

Nice price targets.  Those will do. GLTA Longs

[Sunsurfer12]

Longer term future is bright..but I don't trust the markets this week...S&P MACD daily at or near all time high/overbought..selling some short term ARC covered calls and buying some protection to ride out this week...