<font color=green>Instant Analysis: APA
First, here is the daily swing chart:
ispeculator.com
Seems to me that APA is in a trading range between $55 and $68, generally. Note ADX is low and continues to drop, confirming our observations. Right now, it is on an upswing, with the initial target at the downtrend line overhead in the 62 area. If it gets there, I am sure there will be lots of people who will pick this up in their stock scans as a potential "breakout", but who knows if it can or will.
In this situation, best to scalp intraday, since there is no trend going on in the daily timeframe, and should it pop up to $62, watch first for a fake out on test of resistance at the downtrend line, which also happens to be the 30-day WMA.
Teresa |
