Apache Stock Forecast
Green day on Monday for Apache stock after gaining 0.340%
(Updated on Apr 22, 2024)
The Apache stock price gained 0.340% on the last trading day (Monday, 22nd Apr 2024), rising from $32.36 to $32.47. During the last trading day the stock fluctuated 2.80% from a day low at $31.77 to a day high of $32.66. The price has fallen in 7 of the last 10 days and is down by -7.33% for this period. Volume fell on the last day by -359 thousand shares and in total, 4 million shares were bought and sold for approximately $138.47 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 in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $32.22 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.94% during the next 3 months and, with a 90% probability hold a price between $36.39 and $41.20 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
APA Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Apache stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $32.70 and $33.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -9.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Apache stock
Apache finds support from accumulated volume at $32.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.89 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 2.44%.
Apache is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (APA) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Apache Corporation to open at $32.30, and during the day (based on 14 day Average True Range), to move between $31.52 and $33.42, which gives a possible trading interval of +/-$0.95 (+/-2.91%) up or down from last closing price. If Apache Corporation takes out the full calculated possible swing range there will be an estimated 5.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.88 (1.26%) than the support at $32.00 (1.45%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Apache Corporation stock A Buy?
The Apache stock holds several negative signals and despite the positive trend, we believe Apache will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.562 Sell Candidate Unchanged
Predicted Opening Price for Apache Corporation of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $32.30 ( 0.524%) | $32.47 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 33.19 | 2.22 % | |
| R2 | 32.85 | 1.17 % | ||
| R1 | 32.64 | 0.523 % | ||
| Current price: | 32.47 | |||
| Support | S1 | 31.96 | -1.57 % | |
| S2 | 31.75 | -2.22 % | ||
| S3 | 31.41 | -3.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.43 | 9.12 % | |
| R2 | 34.38 | 5.88 % | ||
| R1 | 32.88 | 1.26 % | ||
| Current price | 32.47 | |||
| Support | S1 | 32.00 | -1.45% | |
| S2 | 30.22 | -6.93% | ||
| S3 | 30.03 | -7.51% |
APA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Apr 19, 2024 | May 22, 2024 | $0.250 | 0.770% |
| 2 | Dec 12, 2023 | Jan 19, 2024 | Feb 22, 2024 | $0.250 | 0.83% |
| 3 | Sep 12, 2023 | Oct 20, 2023 | Nov 22, 2023 | $0.250 | 0.684% |
| 4 | May 22, 2023 | Jul 20, 2023 | Aug 22, 2023 | $0.250 | 0.587% |
| 5 | Feb 02, 2023 | Apr 20, 2023 | May 22, 2023 | $0.250 | 0.747% |
FAQ
Click here for our free guide on how to buy Apache Stock.
