Short term view - APACHE CORP : The MACD is rising.
The trend has been momentarily interrupted by a correction. It approaches the support at $38.800, which also is the invalidation level. It should cause a bounce and resume the bullish trend. The next target is at $48.900. The invalidation level is below $38.800.Arguments :
- The major support has been reached.
- The resistance has been reached, it causes the fall.
- The MACD is rising.
- The moving average is supporting prices.
- The gap being opened could announce a bearish change in the trend, should it remain open in the coming days.
Apache is an independent energy company that explores for, develops, and produces natural gas, crude oil, and natural gas liquids. The company had exploration and production operations in United States, Egypt, and offshore United Kingdom in the North Sea. The company also has exploration interests in Suriname. The company markets its United States crude oil production to main oil companies, marketing, and transportation companies, and refiners based on a West Texas Intermediate price or other regional pricing indices. The company has two international regions: The Egypt includes onshore conventional assets in Egypt's Western Desert. The North Sea region includes offshore assets based in United Kingdom.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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