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Upgrade Alert for Apache (APA)

By Nick Russo

Apache (NYSE:APA) was upgraded from Neutral to Overweight at Atlantic Equities today. The stock closed yesterday at $59.90 on volume of 6.3 million shares, above average daily volume of 3.8 million.

Apache (NYSE:APA) is currently priced 6.8% above its average consensus analyst price target of $55.80. The stock should find initial support at its 50-day moving average (MA) of $49.61 and further support at its 200-day MA of $44.99.

Apache share prices have moved between a 52-week high of $70.14 and a 52-week low of $32.20 and closed yesterday at 86% above that low price at $59.90 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.4%.

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil, and natural gas liquids. The Company has operations in North America, onshore Egypt, offshore Western Australia, offshore the United Kingdom in the North Sea (North Sea), and onshore Argentina, as well as on the Chilean side of the island of Tierra del Fuego.

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

Keywords: analyst upgrades/downgrades apache

Ticker(s): APA