Read today's promising find and trading idea for the stock market.
The Chart of the Day belongs to Apache Corp (APA). I found the stock by using Barchart.com to find “Barchart New Highs” page and then I clicked on pull-down to select stocks with new 52-week highs. I then viewed the stocks on the list with the FlipCharts feature. Apache saw a small downward correction in the past two sessions but then rallied on Tuesday to a new 1-1/4 year high and closed the day sharply higher by +2.71%. Apache could be getting ready to decisively break out to the upside from what could be a year-long basing pattern. Barchart’s proprietary TrendSpotter trading system has been long since Sep 17.
Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. In North America, Apache's exploration and production interests are focused on the Gulf of Mexico, the Anadarko Basin, the Permian Basin, the Gulf Coast and the Western Sedimentary Basin of Canada. Outside of North America, Apache has exploration and production interests offshore Western Australia and in Egypt, and exploration interests in Poland and offshore The People's Republic of China.
