Apache Stock Forecast
Apache stock upgraded to Hold/Accumulate.
(Updated on Jun 24, 2024)
The Apache stock price gained 4.45% on the last trading day (Monday, 24th Jun 2024), rising from $28.09 to $29.34. During the last trading day the stock fluctuated 4.57% from a day low at $28.23 to a day high of $29.52. The price has risen in 6 of the last 10 days and is up by 1.7% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 6 million shares were bought and sold for approximately $187.19 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $29.57 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.31% during the next 3 months and, with a 90% probability hold a price between $21.99 and $23.86 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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APA Signals & Forecast
There are mixed signals in the stock today. The Apache stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $29.58. On a fall, the stock will find some support from the short-term average at $28.29. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 5.46%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Apache stock
Apache finds support from accumulated volume at $29.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.29 (4.57%) between high and low. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: $28.31 (-3.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (APA) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Apache Corporation to open at $29.03, and during the day (based on 14 day Average True Range), to move between $28.44 and $30.24, which gives a possible trading interval of +/-$0.90 (+/-3.05%) up or down from last closing price. If Apache Corporation takes out the full calculated possible swing range there will be an estimated 6.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.26 (0.27%) than the resistance at $30.53 (4.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Apache Corporation stock A Buy?
Apache holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.381 Hold/Accumulate Upgraded
Predicted Opening Price for Apache Corporation of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $29.03 ( 1.07%) | $29.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for APA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.32 | 3.33% |
| R2 | 29.82 | 1.65% |
| R1 | 29.52 | 0.612% |
| Price | 29.34 | |
| S1 | 28.53 | -2.75% |
| S2 | 28.23 | -3.79% |
| S3 | 27.74 | -5.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.43 | 20.76% |
| R2 | 34.38 | 17.18% |
| R1 | 30.53 | 4.06% |
| Price | 29.34 | |
| S1 | 29.26 | -0.273% |
| S2 | 29.18 | -0.545% |
| S3 | 28.09 | -4.26% |
APA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | Jul 22, 2024 | Aug 22, 2024 | $0.250 | 0.85% |
| 2 | Feb 08, 2024 | Apr 19, 2024 | May 22, 2024 | $0.250 | 0.83% |
| 3 | Dec 12, 2023 | Jan 19, 2024 | Feb 22, 2024 | $0.250 | 0.83% |
| 4 | Sep 12, 2023 | Oct 20, 2023 | Nov 22, 2023 | $0.250 | 0.684% |
| 5 | May 22, 2023 | Jul 20, 2023 | Aug 22, 2023 | $0.250 | 0.587% |
FAQ
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