APC closes higher for the 2nd day in a row
Anadarko Petroleum Corporation (APC) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
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.
Daily Candlestick Chart (APC as at Sep 14, 2018):
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.