Is the bullish run coming to an end? APA, Apache closed at $34.38 (-0.84%)

Though in the midst of a 5 day uptrend, gaining a total of 4%, ($1.61), Friday's session suggests run might be coming to an end — an influx of sellers pushed the Texan hydrocarbon explorer to end the session lower around $34.38, while establishing a $34.1 to $35.05 session range Friday.

Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as APA Corporation price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that APA, Apache's upper Bollinger Band® is at $35.07 which indicates a further downward move may follow. Analysis of APA, Apache's recent price action suggests APA, Apache could begin to recover as it approaches significant support, now 41 cents away from $33.97. Dipping below could be an indication that further losses are ahead.

Notwithstanding APA, Apache's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

APA, Apache was not the only decliner in the materials sector; BHP Billiton goes down 1.27% Friday to close at $63.98. Rio Tinto lost 1.17% Friday and closed at $67.55.

Furthermore, United States Building Permits (May) will be released tomorrow at 12:30 UTC.

The hydrocarbon exploration company reached a significant high of $49.5 around 7 months ago but has lost 29.96% since then.