October 20, 2017

Charts to Watch

Apache (APA): The rally has continued to the 200 day SMA which would be expected first resistance.  Now watch for a pullback and how it acts to see if the bottom is in of if the stock has more work to do.  The MACD might be hinting to more work.

Arch Coal (ACI):  Consolidating well and holding the recent gains well.  More action like this and it looks like there will be a strong base for a move toward the 200 day SMA.

Apple (AAPL):  Continues to consolidate but without much downside action.  Watch above $514 with volume.

Devon Energy (DVN): Still chopping in the long term triangle but is acting well.

Freeport-McMoRan (FCX): 200 day SMA is proving resistance but the name is consolidating well.

Occidental Petroleum (OXY):  Support at the 200 day SMA is holding.  This may very well be the bottom in this name.

Tata Motors (TTM):  TTM stopped the recent slide today near support with a gap higher today.  If this name can move up yet again tomorrow I would move long stops up to Yesterday’s lows at $22.13.

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