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Bearish Wedge: Shell Midstream Partners

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Bearish Wedge: Shell Midstream Partners (SHLX)

The wedge is formed when the price moves in an increasingly narrow pattern that has higher minimums and higher maximums.

Strategy:

Risk - reward ratio: 2.64

1. Entry: Sell when the price confirm a breach of the lower band, at approximately $20.2 per share.
2. Profit taking: Target $16.07
3. Stop loss: approximately $21.78

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