Doubling Up

  • September 4, 2002
  • Duke Heberlein

The more signals you can verify when scoping out a possible setup, the more
attractive that setup becomes.

 


12:01:13

 Apache Corp. (APA)
appears to be gathering support at two 50% retracements and the 50-day moving
average. APA is down 0.06 at 53.29 and carries a


3-month
relative strength rank of 82 from TradingMarkets.com.

 

 

Pullbacks to the 20- and 50-day moving averages are good spots
to look for a resumption of the recent trend, and the two retracements are a
simple version of what

Carolyn Boroden and Derrik Hobbs do for TM.com every day. Let’s keep an eye
out here for a retest of the August high.