APC closes higher for the 2nd day in a row

Anadarko Petroleum Corp (APC) Technical Analysis Report for Sep 14, 2018

Highlights

APC fails to close above 200-day moving average
APC closes higher for the 2nd day in a row
APC pushes through previous session high

TQ Sentiment

Report Sentiment: 40% Bearish
Technical Forecast:

Overview

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 chart for APC

Volatility

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.

Support/Resistance

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.

Trend

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

Order Flow

Buying might speed up should prices move above the nearby swing high at 64.21 where further buy stops could get triggered.

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

Condition Forecast Direction Win Rate 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
More market conditions identified for TQ Pro members...
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