Apache Corp, Long Term View

20. Sept. 2015

Not a good year, so far, for Apache shares which lost 32%. Although they appear to have lost "too much", long term chart shows that the price sits now at the intersection of a very old uptrend (green) and the support line of the falling channel (red). Probably, the following weeks will be very important as a break down bellow 36 can open the road to the 26 levels. Increasing volume in the last trading weeks show the power of bears but also may indicate some kind of exhaustion. I would be very tempted to give it a go, and go long from here with a stop at 36.