• Return to Headlines

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 $44.73 and $45.49 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 (NYSE:APA) has potential upside of 1.7% based on a current price of $45.15 and analysts' consensus price target of $45.92. The stock should find initial support at its 50-day moving average (MA) of $41.41 and further support at its 200-day MA of $41.27.

Apache Corp share prices have moved between a 52-week high of $51.21 and a 52-week low of $33.60 and are now trading 34% above that low price at $45.15 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

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