UAN on the launchpad

I'm not an insider or a farmer, but this fertilizer manufacturer had an explosive run after Covid when Russia was cut off from supplying the rest of the world. Now it's showing signs of life after a long windsock consolidation.

No position yet but I just saw this tonight. Wow! This is a low risk setup (almost). Need to see how wave 3 gets going, or not. Next week will be interesting.......

 

same for me;
I am not an insider or farmer.
I am an outsider.

swing / position trading.
It doesn't look bullish.
It doesn't look bearish.
It looks like going nowhere except to remain on the launchpad.


Have to look at fundamentals, UAN competitors,
supply vs demand ....and see where it wants to go.

 

Weekly chart looks good for a swing.
SL below support line at ~75.4.
I would take a position but I'm trying to remove all single company stocks & use ETFs only.
In the fertilizer space I already have CF, MOS and NTR.
Will be removing them when/if they hit targets ... or sooner.

 

I own it long term for its dividend. Illiquid and swings

 

Also it's an MLP. You get a k1 for taxes. Never heard of someone trading these short term

 

Thanks. Great chart. Got me thinking, long term wave count lines up for another blast all the way up to 180 (but this is not enough evidence by itself for an entry, just a target later if it goes up)...

Best case is it bounces on the support again, where the trend line broke and all the moving averages are, but the way the market senses monetization of massive deficits right now it may just explode from here.

Hardest lezzon I ever learned is to just buy it when it blasts, with both claws, screeching in rage!

 

Thanks, and I'm just replying so you know I'm not ignoring you like that other guy.

Buy the way, on entry I don't look at where it's going, but where it's most likely not going.

Risk management is The Answer!

 

I'm so rarely profitable at this, I have no idea what you're talking about but I'm going to look it up. Taxes are like bleeding, after you take a claw to the face!

 

Looking good, but no position yet. Ideally it blasts beyond the measuring rule from the box below, meeting the only real criteria Ed Seykota ever put out in public for his buy signal: buy when everyone else begins to think about selling. You don't want the rocket motor to quit on you once you get in the air!

 

Kicking it off with 100 shares, 83.50 at open. Expecting a retrace to the 77 level, and a potential flag in this range while volatility declines. Or it just explodes from here!