APC unable to break through key resistance level


Anadarko Petroleum Corp (APC) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
APC unable to break through key resistance level
APC closes higher for the 2nd day in a row
APC pushes through previous session high
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, APC ended the week 1.26% higher at 74.59 after gaining $0.90 (1.22%) today. Closing above Thursday's high at 74.05, the market confirms its breakout through the previous session's high having traded $1.22 above it intraday.

Daily chart for APC
Volatility

Friday's trading range was $1.84 (2.5%), that's slightly below last trading month's daily average range of $1.94. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Support/Resistance

Unable to break through the key technical resistance level at 74.72, the stock closed below it after spiking as high as 75.27 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

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

Order Flow

As prices are trading close to July's low at 71.63, downside momentum might accelerate should Anadarko Petroleum mark new lows for the month.

Conclusion

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

Market Conditions for Anadarko Petroleum Corp
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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