Don't Ignore This Chart!

An Energy Infrastructure ETF Breaks Out

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The master limited partnership investment strategy usually has consistent cash flows. Here is an interesting ETF that holds 25 Infrastructure MLP's. This could be considered a defensive area but it still had 18% gains last year.

AMLP 20140207

You can see in the SPURS (Purple shaded area behind the RSI), this stock underperformed since last July. The MACD has gently pulled back. This would appear to be the second week the stock held above the breakout area. That is a change in behavior as all the other breakouts failed on the second week. 

The SCTR is getting to a decision level. A break through 75 would be very important. That would make it a top quartile ETF.

I think it's pretty interesting here. For more information on the ETF click through this link. AMLP

Good trading,

Greg Schnell, CMT

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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