APA closes higher for the 4th day in a row
Apache Corporation (APA) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, APA finished Thursday at 44.01 surging $1.35 (3.16%). This is the biggest single day gain in over four weeks. Today's closing price of 44.01 marks the highest close since February 1st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 42.73, the stock confirms its breakout through the previous session's high having traded $1.37 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (APA as at May 17, 2018):
Thursday's trading range was $1.29 (3.0%), that's slightly above last trading month's daily average range of $1.22. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.
Breaking through the key resistance level at 43.37 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.