$20 Short Possible for APA Contigent on Positive Earnings CallFirst off, please don't take anything I say seriously. As always, this is on opinion based basis. That being said, let me get into a few key points. Apache Corporation have recently been bearish as a result of the period we are in and the demand in oil going down. I believe realistically, if somehow they have a positive earnings call, they can quickly surpass the $20 threshold. If now, then we need to wait and see how the market will react once the demand curve for oil keeps going back up.
Apashort
APA approaching resistance, potential drop! APA is approaching our first resistance at 34.25 (horizontal overlap resistance, 100% fiboancci extension, 38.2% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 25.66 (horizontal swing low support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
