APC closes higher for the 2nd day in a row
Anadarko Petroleum Corp (APC) Technical Analysis Report for Sep 14, 2018
Moving higher for the 2nd day in a row, APC ended the week -0.83% lower at 63.01 after gaining $0.57 (0.91%) today. Closing above Thursday's high at 62.73, the share confirms its breakout through the prior session's high having traded $0.84 above it intraday.
Friday's trading range was $1.25 (2.01%), that's slightly below last trading month's daily average range of $1.28. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.
Prices are trading close to the key resistance level at 63.93. After spiking up to 63.57 during the day, Anadarko Petroleum found resistance at the 200-day moving average at 63.02.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 64.21 where further buy stops could get triggered.
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
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|3 Consecutive Higher Closes||TQ Pro Members Only|
|Strong Up Move||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Bullish Break through SMA 20||TQ Pro Members Only|
|Bullish Break through SMA 200||TQ Pro Members Only|
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