Categories
Energy

Apache Corp (APA): A bet that it will bounce off kumo support


I am making a bet that Apache (APA) will bounce off the kumo support.

Noticed how there is a long ‘tail’ a few days back. It suggest that it is not ready to go down so much yet.

The possible risk could be its earning report is due in a couple of day (I think).

Nonetheless, I have mitigate the risk by selling a March spread.