Anadarko Petroleum Corp (APC) – 11-20-2013

November 20, 2013 at 9:43 pm · Filed Under Bearish, Swing Trades 

Can’t forget about the possibilities for a bearish turn.  Oil stocks have been getting a lot of press lately on both sides after Buffett was found to be taking a large stake in XOM, which brought about a lot of noisy bears giving their opposing two cents.  I never take long term shorts, but I do see a nice potential swing play in APC that has broken down below its significant long term support/resistance line at $92.  This and other oil stocks that have similar charts should be interesting if the market falls apart.

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