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- 3/15/2024 -
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Apache Corp. (APA) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineStochastic signal line moved above oversold area
Daily :Lane's Stochastic is overboughtPrice has crossed above the 50 Day Moving Average
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It was a third consecutive positive week for the Apache Corp. (APA). During the week, the APA gained 1.19 points, or 3.86%, and closed at 32.00 on Friday, March 15, 2024. Weekly volume was 83% above average.

APA is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See APA long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 3.80 and reached 51.95 on June 8, 2022. APA gained -48.15 points, or -1267.11%, in 116 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (47.86) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See APA medium-term trend chart]
A medium-term downtrend had started on September 5, 2023 at 46.15 and reached 29.47 on February 5, 2024. APA lost 16.68 points, or 36.14%, in 21 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 26.60 and resistance is at 33.20. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See APA weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since October 27, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See APA short-term trend chart]
A short-term uptrend had started on February 5, 2024 at 29.47 and reached 32.95 on March 14, 2024. APA gained -3.48 points, or -11.81%, in 38 days. The price is now at the 27.30% retracement level.

Daily Technical Indicators: [See APA daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since February 5, 2024. This is an indication that the short-term trend is up.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.71
Williams' Percentage Range (W%R) 21.10
Lane's Stochastic (%D-Slow) 87.28
Overbought
Greed/Fear Indicator (GFI) 79.64
Moving Average Converg./Diverg. (MACD) -0.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.41
Williams' Percentage Range (W%R) 77.60
Lane's Stochastic (%D-Slow) 21.14
Greed/Fear Indicator (GFI) 29.15
Moving Average Converg./Diverg. (MACD) -1.93
Trading Signals
Description Value Chart
Weekly Trendline Resistance 33.20
Upper Bollinger Band 32.80
Daily Stochastic Crossing 32.56
Price 32.00
Parabolic System 31.63
50 Day Moving Average 31.17
20 Day Moving Average 30.82
Weekly Stochastic Crossing 30.31
Lower Bollinger Band 29.42
Weekly Trendline Support 26.60
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Oil & Gas Exploration & Production 57
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 29.47
Low Date 02/05/2024
High 32.95
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 33.20
Support 26.60
High 46.15
High Date 09/05/2023
Low 29.47
Low Date 02/05/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 50.58
High Date 11/07/2022
Low 29.47
Low Date 02/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 51.95
High Date 06/08/2022
Low 29.47
Low Date 02/05/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 46.16
Support 47.86
Low 3.80
Low Date 03/18/2020
High 51.95
High Date 06/08/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.