The support of 71 USD is being tested which should allow Anadarko Petroleum Corporation to meet again the bullish trend.

In the recent months the earnings prospects for current year is regularly revised upwards by analysts covering the entreprise. With estimated earnings per share for this year by consensus of 4.24 USD and 5.22 USD for next year , the share at current price is paid 17.18 and for next year 13.94 times the results.

Technically, in daily data, if the moving averages are still downward-oriented, the positive reaction of 71 USD should stop this trend and allow to aim that scenario of a technical rebound towards the 76.6 USD. In addition, the technical indicators show an oversold condition which reinforces this upward prevision.

For a trading strategy, we could take advantage from proximity and relevance of support's level currently tested for a buying position with a good timing. The potential gain is 8.8 %. The stop loss will be at 68.9 USD in order to cover a new downwards trend.