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After Yesterday's Rally of 1.30% Shares Could Potentially Pullback

By James Quinn

Apache Corp (NYSE:APA) traded in a range yesterday that spanned from a low of $35.50 to a high of $36.13. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $35.95 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Apache Corp share prices have moved between a 52-week high of $69.00 and a 52-week low of $33.60 and are now trading 7% above that low price at $35.99 per share. The 200-day and 50-day moving averages have moved 0.14% higher and 2.42% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Apache Corp on January 30th, 2018 by issuing a Downtrend alert when the shares were trading at $45.11. Since that call, shares of Apache Corp have fallen 21.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Apache Corp

Ticker(s): APA