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April 16, 2023
A quick look at Friday: generally flat but with a slight bullish bias, APA, Apache ranged between $40.17 and $40.92 before closing higher at $40.78.
Technical analysis of APA, Apache's past price action reveals multiple support and resistance levels: APA Corporation could be slowing down soon as it approaches resistance at $41.08. Of course, crossing it might suggest further gains are ahead. Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $42.06, thereby suggesting that APA, Apache is becoming overvalued.
Overall, while APA, Apache has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
While APA, Apache was bullish Friday, the following materials stocks underperformed: Rio Tinto went down 1.89%, closed at $69.9. BHP Billiton went down 1.79%, closed at $62.7. Linde lost 0.63% Friday and closed at $359.67.
The stock has been trending positively for about 28 days. The hydrocarbon exploration company is now trading 9.73% below its 3-month high of $51.39.
