Long Position on VNOM @ $29.48 on 5/4/2018 (Momentum)

Viper Energy Partners LP  (VNOM) owns, acquires, and exploits oil and natural gas properties in North America.

The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas.

As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent. Viper Energy Partners GP LLC operates as the general partner of the company.

The company was founded in 2013 and is based in Midland, Texas. Viper Energy Partners LP is a subsidiary of Diamondback Energy, Inc. (FANG).

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. The 50-day moving average is shown in brown.

Entry Point: $29.48

52-Weeks Trading Range: $14.76 - $30.94

Stop Loss: $28.00

Target Price: $32.42

Updates

5/21/2018 11:39:30 AM

VNOM closed at  $33.00

Position closed on 5/21/2018 at price of $33.00 with a 11.94% gain in 17 days.

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