The past weeks we saw some heavy selling into $APA, but the daily chart has formed a bottoming tail. Many people will jump on board when they see things like this, as professional trader you want only the best level! So I wait for a 50% retrace of this level to take a long position.
The price where I will look for a long play will be a retrace to the $68.69, the stop on this play will be any close below the low and that is $67.94 I will look for a $3 bounce as first target.
Kristof De Block