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
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