APA has been struggling financially for a while and has been trading in this downward channel just reaching the top border. Consistent rejections have been apparent especially as it approaches the 0.618 golden zone on our Fibonacci retracement.
Macro outlook there is a strong consensus that oil prices are going to see a decline continue for the rest of the year. The sheer supply of oil is already outstripping demand leading to storage of oil globally which is not only costly but has increased costs for companies. S/D analysts at goldman predict 4x in supply over the forthcoming year leading to lower oil prices.
APA will most likely struggle under these conditions, therefore im looking to sell
Macro outlook there is a strong consensus that oil prices are going to see a decline continue for the rest of the year. The sheer supply of oil is already outstripping demand leading to storage of oil globally which is not only costly but has increased costs for companies. S/D analysts at goldman predict 4x in supply over the forthcoming year leading to lower oil prices.
APA will most likely struggle under these conditions, therefore im looking to sell
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.