Union Gas surged from 39 cents to 55.5 cents on 4th
August, marking a 42.31% increase. The spike occurred during the post-market
auction after 5 pm, as the stock had been hovering around 38 cents for most of
the day before that.
I bought Union Gas on 2nd July at $0.32 apiece, viewing
it as a defensive play with a solid dividend yield—particularly attractive
given its insulation from Trump’s reciprocal tariffs. My unrealized net ROI has
now reached about 72.7% within about a month. I had not expected such a drastic surge in such a
short time, especially since most of the gains happened in a single session.
Based on the chart, I estimate the next resistance level to
be around 68 cents, calculated as the average between the recent trough and the
peak on 28th Jul 2021.
The company is 68% owned by the Teo family, and there is a
possibility it may be taken private by them. As for me, I will sit back with
some popcorn and wait for the price to approach that resistance level before
deciding whether to divest.
Superphang
https://superphang.blogspot.com
