BUY! APACHE CORP (APA) NYSE

  Report No. 1695    Analysis by: Harry Aloof     FEBRUARY 3, 2003

APACHE CORP (APA-NYSE): Technical Viewpoint: From a low of $55.15 on Jan 8, 2003 prices rallied, reaching a high of $62.51 on Jan 17, 2003. A decline saw prices pull back, reaching a low of $58.51 on Jan 28, 2003. Another rally saw prices penetrate resistance, closing 1/31/03 at $62.41. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Dec 4, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $57.75. Resistance: Is at $64.75. Point & Figure: Reversed to the upside on Jan 27, 2003. A P&F upside reversal takes place at $59.00. Summary: Technical indicators have turned bullish. BUY! APACHE CORP (APA-NYSE) @ $62.50 Stop: Use a protective stop of $60.13. APACHE CORP is currently trading @ $62.41 plus $2.15 on Jan 31, 2003. Price Objective: $77.00. Risk/Reward: $2.38 VS. $14.50. Today's Risk Reward Ratio: 6:1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$77.00 Risk/Reward:
$2.38 VS. $14.50 Risk/Reward Ratio:
6:1
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