3 Energy Stocks to Sell: Apache Corporation (APA)
Apache Corporation (NYSE:APA) rounds us out with a chart similar to its predecessors. The exploration and production company has been steeped in a downtrend for months now. The descent has been so substantial that the 200-day moving average has been turned lower. That’s no small feat. Last week’s pop lifted APA stock to the descending 20-day moving average where it was rebuffed in short order.
APA shares are falling in early-morning trading, confirming its next down-leg has begun. Buy the April $52.50 puts for $2.80 to profit.
At the time of this writing, Tyler Craig had no positions on any of the aforementioned securities.