APA - Upward channel breakdown short from $48 to $34, 50 Jul Put
APA Seems broken down from an upward channel, retested the channel support line & now falling down sharp. With the falling Oil price we think it can decline as low as $34 area
* Trade Criteria *
Date first found- April 20, 2017
Pattern/Why- Upward channel breakdown, Declining Oil price,
Entry Target Criteria- Break of $48.87
Exit Target Criteria- 1st Target $38.13, 2nd Target $34.13
Stop Loss Criteria- $56.13
Option- To play this we would consider $50 July Puts @ $3.34, and $45 July Puts @ $1.57
Please check back for Trade updates. (Note: Trade update is little delayed here.)
* Trade Criteria *
Date first found- April 20, 2017
Pattern/Why- Upward channel breakdown, Declining Oil price,
Entry Target Criteria- Break of $48.87
Exit Target Criteria- 1st Target $38.13, 2nd Target $34.13
Stop Loss Criteria- $56.13
Option- To play this we would consider $50 July Puts @ $3.34, and $45 July Puts @ $1.57
Please check back for Trade updates. (Note: Trade update is little delayed here.)
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