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Possible Bearish Inside Day Candle Pattern Detected for Apache Corp (NYSE:APA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Apache Corp (NYSE:APA) based on the price action in the company's shares. Today's price range of $35.43 and $35.43 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Apache Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil, and natural gas liquids. Apache operates worldwide.

Apache Corp share prices have moved between a 52-week high of $50.03 and a 52-week low of $24.56 and are now trading 44% above that low price at $35.43 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.7%.

There is potential upside of 29.6% for shares of Apache Corp based on a current price of $35.43 and an average consensus analyst price target of $45.92. The stock should find resistance at its 200-day moving average (MA) of $38.81, as well as support at its 50-day MA of $32.73.

SmarTrend is monitoring the recent change of momentum in Apache Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Apache Corp in search of a potential trend change.

Keywords: bearish inside day candle Apache Corp

Ticker(s): APA