My bias for the bigger picture (monthly) is bearish, however there is opportunity at these areas to take some profits to the upside, and sell before price reaches major resistance areas.
This trade might take a couple of months to play out.
Not financial advice.
Standing out recently for not participating along with other oil stocks moving higher, APA has the potential to triple should the wave 3 unfold as illustrated. I've been building a position at this level.
While the price of oil and other oil stocks have been on the move higher, APA has dignificantly lagged. Wave count indicates that the correction is over and higher prices ahead. Wave 3 projection shows prices exceeding 100 at 1.618% reading.
APA Corp. engages in oil and natural gas exploration through its subsidiary companies. The company operates in the United States, Egypt, and the United Kingdom, with offshore exploration activities in Suriname. Established in 1954, APA Corp. is headquartered in Houston, Texas.
The primary rationale for recommending this stock lies in the current tense...
If the estimates are correct regarding the earnings as of 01. Nov. we could see a breakout from key levels and the wedges forming on APA. This is purely based on earnings and technical analysis and the possible recession might change the outcome. I will be monitoring this stock closely and looking out for key levels in 41, 45, 49 and 51 dollars.
Waited until Jerome Powell had finished speaking before taking any trades today,
Started the day with a new position on APA.
The ong entry trade set up is as follows:
1. Directional indicator are moving in opposite directions at an angle (pref > 35 degrees)
2. Volume osciallator (Chakin money flow and On Balance) is increasing
3. Resistance based on higher...
Oil is one of the few sectors that analysts are still bullish on in 2023. Long arguments include catalysts such as China's re-opening, airlines recovering, and lowered supply leading to higher oil prices. APA Corporation, formerly known as Apache, operates in the US, Egypt and the UK and is one of the largest American explorers for oil and gas properties. It owns...
Technical Analysis:
- Price cross 20 MA and above, and is above 200 MA
- Stock is on an uptrend, with 20MA > 50 MA > 200 MA
- Price has been consolidating horizontally and the last bar was a strong rejection of the bearish bar before that (Oil and gas sector fell sharply on the day before)
- Volatility is high
- Stock seems to be in the early uptrend stage...
APA is making HH and HL on a 1D time frame. We can see a weekly trendline and monthly resistance are giving tough times, which is a real challenge for now. If we combine the head and Should pattern + bullish divergence on RSI + Dow theory then it may cross this resistance soon then the target would be around 60.
A Megaphone structure with more bullish increases yet to come as indicated by the bars pattern
A megaphone like this could also be referred as a rising expanding wedge , but megaphone is the correct terminology
Bullish on this Monthly timeframe
$APA - Energy | Oil & Gas
energy sector leads in RS over a 4wk period.
$APA outperformed among the S&P500 names from yesterday's market selloff with a double bottom price pattern from its correction in a 2-years uptrend. BO lvl coincides with confluence of VWAP & KMAs at $37.50
It will appear that a rounding bottom pattern is busy developing (see the insert as well as the blue arrowed line on the chart).
The price action is also fairly close to the lower range of the linear regression channel pattern.
This increases the likelihood of some upside price potential.
Also testing its 200-day simple moving average.
MACD is a tool that is used to detect moving averages that are showing a new trend, whether that trend is bullish or bearish. This indicator can be used to identify moving averages that are signalling a new trend. In 7 July 2022, the MACD line is crosses from below to above the signal line. This condition is considered as bullish. The futher below the zero line is...
In the month July 2022, It moves downward and above the horizontal reference level of 30, this is a bulish sign and indicate buying signal. RSI rises over the horizontal 30 reference which is the value is 36.46. This means RSI is a positive indication and indicate bullish sign. A sign of a rising trend is when there is a movement from below the centerline (50) to...
A zero line that distinguishes between positive and negative values is shown against the ROC. Positive values indicate upward momentum or purchasing pressure, whereas negative values below zero indicate downward momentum or selling pressure. The value of ROC is negative at 13 July 2022 and indicate selling pressure. As investor, we trade the market as trading...
The PEAD projected a Bearish outlook for $APA after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 83.33%.
