Edit on July 15th 2019: Trade idea is canceled as the stock declined away from limit buy price level.
Avangrid Inc. (NYSE: AGR) is a renewable energy and utility company servicing about 3.1 million customers throughout upstate New York and New England in the United States. Avangrid Renewables LLC operates as a subsidiary of Avangrid, Inc. and it develops, builds, generates, and operates renewable wind energy.
On all time frames the $AGR stock price is moving up dynamically and propelled by the uptrending moving averages. The non-crossover between the moving averages on the monthly price chart (blue circle) is a harbinger of a potential breakout above the All-Time-High (ATH). The ATH stands at $52.53 but a slightly slopping trend line can be plotted above the weekly tops. When the resistance is taken out at the position of the upward pointing blue arrow ($52.32) it is expected for the price to rally .
AGR Multiframe Volatility Price Charts (June 13th end of day)
As we don’t want to anticipate the breakout and risking price rejection below the triple top resistance we are therefore buying $AGR only when it breaks the resistance with a $53.4 stop order and once entered in the trade will place an initial protective stop loss order slightly below $49. This trade may not be triggered immediately but possibly in the coming weeks.