the last time FB broke out like that and sliced through the top end of the bollinger band and making a new all time high was the last peak and then it corrected on December 22nd to February 9th.
That's another 3.3% just in afterhours looks like the mother of all squeezes plus the dollar is weaker after the fed statement which makes oil go up in price as it trades in dollars..
Technical analysis is a recognition of repeated patterns and how they play out you either accept them or not your choice as it is always better to have more information than less and then you can choose what you want to believe good luck to you.
then you can project a target price of 40.50 which is almost 25 % lower from where we are today.
wan't to see a big volume day down with lots buying towards the end of the day.
Because MLP's pay distributions which are return of capital therefore non taxable but as all your investment is returned you then must start paying taxes on the distributions, in an IRA account you are never taxed on thoose. If you only hold them till your capital is returned and sell and then buy another one you must pay the capital gains tax on the sale assuming it has gone up from where your purchase price was.
the bottom will be when there is an equal amount of buyers with sellers as far as a price target that is very debateable but i am sure the bottom is not in today.
31.65 for several days the minimum target level will be 24.20 which is the percent decline from the origional head to the neckline or 41.38 to 31.65 = .7648 percent. .7648 percent from the neckline brings us down to 24.20
will be interesting to see what happens this month
it will be interesting to see the reaction this month.
You would be up nice today epd up and sco up over 2.5%. There is a chance oil could go back down and test the lows or even keep going lower it's anybodys guess in here.
Oil is up today and has stabilized we were lower this morning then oil came back strong and is now up 1.75% from being down 2.5%. MLPL is a bargain at theese prices get it while the sale lasts.
your response to how does oil effect PAA and other midtream MLP's is basically simple if oil's price stays under the cost to get it out of the ground no new commitments to transporting that oil will be made and therefore no need for new pipelines. Oil has made a bottom and should go up from here as it goes up in price more and more areas of drilling become profitable again to bring it up out of the ground and therefore thier will be new pipelines made. The other factor that must be considered is new technology and other methods of extracting the oil out of the ground should bring down over time the costs involved and therefore allow for more pipelines to come online to transport it.
once oil gets back to the high 60's growth should resume as business as usual
and commence. PAA management being very conservative and forcasted 50 dollar oil going forward for thier growth projections if oil gets to high 60's growth will return as business as usual and that 7 percent projection will be back over 10%.
once the market recognizes this and prices get back up into the high 60's all thoose projects being put on hold or delayed will come on in a hurry and it will be business as usual.
if oil goes to 70 or higher there will be no production cuts and all projects will go as planned.