APA, Apache closes at $33.22 after gaining 2.98%

Friday at a glance: APA, Apache rallied 2.98% and ended the session at $33.22.

Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, APA, Apache's lower Bollinger Band® is at $31.89, indicating that the market is oversold and fertile for new buyers. A study of APA, Apache's historical price actions shows although APA, Apache is appreciating today after rising as high as $33.64, price action is now slowing and consolidating around 79 cents below the $34 resistance level.

Overall, the technical outlook suggests APA, Apache is likely to remain muted for the immediate future, with no clear-cut direction.

This rally in APA, Apache's share price coincided with other materials stocks as BHP Billiton traded at $60.79 after closing Friday's trading day at $58.18 (up 4.49%). Rio Tinto traded at $63.67 after closing Friday's trading day at $61.48 (up 3.56%). Linde gained 1.54%, as it traded at $366.37.

The hydrocarbon exploration company is now trading 21.43% below its 3-month high of $51.39.