APA closes higher for the 4th day in a row


Technical Analysis Report for APA - May 17, 2018 [< 1 min read]
Highlights
APA rallies 3.16% closing $1.35 higher
APA pushes through key resistance level
APA dominated by bulls lifting the market higher throughout the day
APA closes higher for the 4th day in a row
APA ends the day on a bullish note closing near the high of the day
TQ Sentiment
Technical Forecast:
Overview

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 chart for APA
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 43.37 today, it is now likely to act as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Strong Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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