APC unable to break through key resistance level


Anadarko Petroleum Corporation (APC) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

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

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 Candlestick Chart (APC as at Jul 13, 2018):

Daily technical analysis candlestick chart for Anadarko Petroleum Corporation (APC) as at Jul 13, 2018

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.

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.

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

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.


Market Conditions for APC as at Jul 13, 2018

Loading Market Conditions for APC (Anadarko Petroleum Corporation)...
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