SHLX winds upSHLX has been trending overall sideways since last summer, but mostly downward since last June. Over that time, the stock has formed a trendline of resistance (red), and a trendline of support (green). Any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its importance. So, SHLX definitely seems to have two important trendlines to watch.The Tale of the Tape: SHLX is currently stuck between two trendlines. A break above trendline resistance should mean higher prices for the stock, thus a long trade could be made. Short traders might look to enter on a break of trendline support.Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!Good luck!Christian Tharp, CMT@cmtstockcoach