Monday, 8 August 2016

APC, KMI - energy stocks catching a bid

With WTIC oil climbing for a fourth consecutive day, the related energy stocks of Anadarko (APC), and Kinder Morgan (KMI) settled higher by 0.5% and 2.0% respectively. Near term outlook is bullish. Mid term outlook will turn bullish if Oil can break/hold the $50 threshold.

APC, daily

KMI, daily


Suffice to add, with higher oil prices, it was no surprise to see continued upside in most energy stocks.

KMI has successfully held the old breakout level of the $19s. Upside target 25/26.

APC is yet to break key resistance of the $57/58s.. but it looks highly probable.

*yours truly remains long APC... would only turn bearish on a break <$50.