APA, Apache ended the session at $41.15 Friday, after four straight days of gains

Friday at a glance: the Texan hydrocarbon explorer went up to $41.15, gaining 2.19%.

APA Corporation made an initial breakout above its 200 day Simple Moving Average at $41.18, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $40.04 by around $1.11 with prices hammering out a $39.4 – $41.38 session range. On the other hand, note that APA, Apache is 74 cents away from testing key resistance at $41.89. Peaking above this level could inspire market bulls and open the path to further gains.

Overall, looking at the technical analysis landscape, it seems APA, Apache might continue pointing upwards in the short term.

A look at other materials stocks also showed bullish price action as Linde was up 3.02%. Rio Tinto was up 1.95%. BHP Billiton traded at $65.85 after closing Friday's trading day at $65 (up 1.29%).

The hydrocarbon exploration company has shed 10.17% over the past three months.