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APA Accelerates from a Big-Base Formation


I entered a 100%-long position in Apache Corp. (APA) this morning at 91.33, into strength in the aftermath of yesterday's key-upside reversal day, 88.84-90.89, which triggered new-buy signals in my intermediate-term pattern work.

Let's notice on the daily chart that APA is starting to accelerate to the upside from a near 2-year base formation, which projects next to 94.00 and to 98.00, thereafter, possibly on the way to 105-110 several months from now.

Only a sudden-downside reversal that breaks and closes beneath 88.85 will compromise my currently constructive outlook.

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