With WTIC oil at $50, energy stocks continue their broad climb since the January lows. Apache (APA), and Anadarko Petroleum (APC), settled significantly higher by 4.7% and 3.6% respectively. If oil prices hold up, and sp >2134, both look set for the $70/80s before end 2016.
*normally, I would only highlight the daily charts.. but lets also take a look at the bigger picture.. via the monthly charts...
APA, $60... if taken.. then 70/80s
APC, $58... if taken.. then 70/80s.
Of the two companies, I favour APA, due to its lower debt load of around $8bn, vs. $20bn for APC.
*no position, but would strongly consider chasing APA, if sp >2134... with a bullish June close.