Thursday, 8 September 2016

APA, APC, CHK - energy stocks surging upward

Energy stocks continue to hold rather powerful underlying strength. Apache (APA), Anadarko (APC), and Chesapeake (CHK) settled higher by 7.2%, 3.2%, and 13.7% respectively. Near/mid term outlook is very bullish, not least as WTIC oil looks set to re-take the psy' level of $50.

APA, daily

APC, daily

CHK, daily


APA: follow through after yesterday's 'discovery' gains.

APC: breaking up and away. First target is a monthly close >$60, with $70 probable before year end.

CHK: continuing to climb.. as the bullish chasers are increasingly interested. Next level is $10.... with $12 very viable in spring 2017.

*CHK is of course highly speculative. APA and APC are both far more stable and financially sound.

As it is.. I prefer KMI, which broke 'up and away' a few months ago... and is leading the pack higher.