Atlas Pipeline Partners, L.P. (NYSE:APL)Q: I am interested in your outlook on APL.I purchased 2000 shares at 5.20 about 2 months ago.I was looking for oil prices to go up to give this stock a boost,but it's been a slow go. Thaanks for your input!
A: We issued an Uptrend for APL on 5/11/09 at $5.31 per share. Very close to when you purchased. As you know, APL is an MLP that will be dependent on distributions to unit holders to drive the price of its units higher. The stock is just below its 200-day moving average which may be of some resistance near term. Look for a breakout above that level (~7.64). The MACD has also just ticked slight positive which is a potentially good sign from a technical level. Our NBDV indicator is trending higher and our IBDV (intermediate-trend) is still in oversold territory but trying to rise. These indicators all need to show positive increases before momentum can improve.