Long Position on AR @ $46.00 on 6/7/2022 (Momentum)

Antero Resources Corporation (AR) ia an independent oil and natural gas company. Stockwinners

It acquires, explores for, develops, and produces natural gas, natural gas liquids, and oil properties in the United States.

As of December 31, 2021, it had approximately 502,000 net acres in the Appalachian Basin; and 174,000 net acres in the Upper Devonian Shale.

The company also owned and operated 494 miles of gas gathering pipelines in the Appalachian Basin; and 21 compressor stations.

It had estimated proved reserves of 17.7 trillion cubic feet of natural gas equivalent, including 10.2 trillion cubic feet of natural gas; 718 million barrels of assumed recovered ethane; 501 million barrels of primarily propane, isobutane, normal butane, and natural gasoline; and 36 million barrels of oil. 

Shares have formed a bullish "cup and handle" and are on the cusp of a breakout of this formation. The company reports July 27th.

 

Entry Point: $46.00

Stop Loss: $42.50

Trading Range: $10.91 to $46.68

Target Price: $50.60

Position closed on 6/17/2022 at price of $42.00 with a -8.70% loss in 10 days.

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