APA, Apache is on a 5 day bullish run gaining $1.76 (4.78%). Friday's session pointed in the same direction — after ending Thursday at $46.72, APA, Apache spiked to $47.37 Friday, dropped back to starting point range, and rallied again to $47.11.
United States ISM Non-Manufacturing PMI (Nov) is next today at 15:00 UTC.
APA Corporation made an initial breakout above its 21 day Simple Moving Average at $47.08, a potential indicator of a newly emerging bullish phase. In contrast, although APA, Apache is appreciating today after rising as high as $47.37, price action is now slowing and consolidating around 48 cents below the $47.59 resistance level.
Overall, looking at the technical analysis landscape, it seems APA, Apache might continue pointing upwards in the short term.
This rally in APA, Apache's share price coincided with other materials stocks as Rio Tinto traded at $69.82 after closing Friday's trading day at $69.18 (up 0.93%). BHP Billiton traded at $63.43 after closing Friday's trading day at $63.02 (up 0.65%).
Furthermore, the market is looking at United States ISM Non-Manufacturing PMI (Nov) is scheduled for today at 15:00 UTC. United States EIA Short-Term Energy Outlook will be released tomorrow at 17:00 UTC.
The past 3 months have been positive for the hydrocarbon exploration company as it added 24.82% compared to its 3-month low of $23.94.