APC closes higher for the 4th day in a row

Anadarko Petroleum Corp (APC) Technical Analysis Report for May 17, 2018

Highlights

APC closes higher for the 4th day in a row
APC pushes through previous session high
APC rises to highest close since January 24, 2017

TQ Sentiment

Report Sentiment: 33% Bullish
Technical Forecast:

Overview

Moving higher for the 4th day in a row, APC finished Thursday at 71.14 gaining $0.82 (1.17%). Today's closing price of 71.14 marks the highest close since January 24, 2017. Closing above Wednesday's high at 70.67, the market confirms its breakout through the previous session's high having traded $0.98 above it intraday.

Daily chart for APC

Volatility

Thursday's trading range was $1.04 (1.47%), that's far below last trading month's daily average range of $1.54. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Trend

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

Order Flow

2,017's high at 72.32 is within reach and we might see further upside momentum should Anadarko Petroleum manage to break out beyond.

Conclusion

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

Market Conditions for Anadarko Petroleum Corp

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Latest Report:

APC finds buyers at key support level

Sep 21, 2018
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