Contrarian bet on APA

11 thg 7, 2019

Since oil has been rallying (ruining my earlier short trade) and apparently forming more complex correction pattern which will take time to complete I will go with short-term bullish indications I see in some oil stocks.
Take Apache. Everyone hates it. Yahoo puts it on the list of 4 stocks to sell. Simplywall.st says it is more than 4 times overvalued. Perfect bet for a technical contrarian)))

I will make a small speculative bet that the oil price will raise the stock to $35 before it collapses to new lows.

0.23% risk on the trade. No specific strategy just see what happens.