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Anadarko Petrole (APC) Crosses Pivot Point Resistance at $70.34

By David Diaz

Shares of Anadarko Petrole (NYSE:APC) opened today above their pivot of $69.60 and have already reached the first level of resistance at $70.34. Should the shares continue to rise, the resistance pivots of $71.00 and $72.40 will be of interest.

In the past 52 weeks, shares of Anadarko Petrole have traded between a low of $39.96 and a high of $73.33 and are now at $70.05, which is 75% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 2.2%.

Anadarko Petrole has overhead space with shares priced $70.05, or 2.1% below the average consensus analyst price target of $71.55. The stock should discover initial support at its 200-day moving average (MA) of $55.58 and subsequent support at its 50-day MA of $46.98.

SmarTrend recommended that subscribers consider buying shares of Anadarko Petrole on March 22nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.80. Since that recommendation, shares of Anadarko Petrole have risen 14.6%. We continue to monitor APC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts anadarko petrole

Ticker(s): APC