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February 28, 2023
Yesterday at a glance: APA, Apache spiked to $39.76 yesterday and consolidated before initiating a fresh rally to $39.23. This comes following Friday's session in which it closed at $39.22.
United States Consumer Confidence is next.
APA, Apache's state is reflected by market data as highly important Pending Home Sales data from United States beat analyst expectations of 1% with a reading of 8.1%. United States Core Durable Goods Orders improved upon its previous reading of -0.4% with a new data release of 0.7%. United States Core Durable Goods Orders fell short of the -4% projections, with new data of -4.5%.
APA, Apache's notable support and resistance levels: APA Corporation is climbing away and is now 45 cents from the $38.78 support line.
Meanwhile, mixed performances were seen by other materials stocks as Linde went down to $344.48, losing 0.91% after it closed at $347.66 yesterday.
Data to be released today might clear up some of the market fog as tomorrow at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 440,000 from the preceding figure of 7.65 million. United States Consumer Confidence is projected to outperform its last figure with 108.5, having previously been at 107.1. The figure will be published today at 15:00 UTC. United States ISM Manufacturing PMI (Feb) is expected tomorrow at 15:00 UTC.
Pointing downwards for around a month. The current year has not been the best for the Texan hydrocarbon explorer as it lost 10.07% from its highest point of $51.39.
