APACHE CORP
(APA-NYSE):
Technical Viewpoint: From a low
of $46.13 on Aug 15, 2002 prices
rallied, reaching a
high of $57.92
on Aug 27, 2002. A
decline saw prices pull back, reaching a
low of
$51.70 on Sep 4, 2002.
Another rally saw prices penetrate
resistance, closing 9/16/02
at $58.33. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Aug 15, 2002 when the Histogram crossed the "0" line to the upside.
Support: Remains at $56.75. Resistance: Is at $60.09.
Point & Figure: Reversed to the upside on Sep 6, 2002. A P&F upside
reversal takes place at $55.00. Summary: Technical indicators have turned bullish. BUY! APACHE CORP
(APA-NYSE) @ $58.63 Stop: Use a protective stop of $56.13.
APACHE CORP is currently trading @ $58.33 plus $1.04 on Sep 16, 2002. Price Objective:
$67.00. Risk/Reward: $2.50 VS. $8.38. Today's Risk Reward Ratio: 3:1
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