Advertisement
UK markets close in 6 hours 15 minutes

  • FTSE 100

    8,298.42
    +84.93 (+1.03%)
     

  • FTSE 250

    20,381.05
    +216.51 (+1.07%)
     

  • AIM

    777.18
    +5.65 (+0.73%)
     

  • GBP/EUR

    1.1650
    -0.0010 (-0.08%)
     

  • GBP/USD

    1.2540
    -0.0024 (-0.19%)
     

  • Bitcoin GBP

    51,215.76
    -788.45 (-1.52%)
     

  • CMC Crypto 200

    1,332.59
    -32.54 (-2.38%)
     

  • S&P 500

    5,180.74
    +52.95 (+1.03%)
     

  • DOW

    38,852.27
    +176.59 (+0.46%)
     

  • CRUDE OIL

    78.55
    +0.07 (+0.09%)
     

  • GOLD FUTURES

    2,323.70
    -7.50 (-0.32%)
     

  • NIKKEI 225

    38,835.10
    +599.03 (+1.57%)
     

  • HANG SENG

    18,479.37
    -98.93 (-0.53%)
     

  • DAX

    18,282.32
    +107.11 (+0.59%)
     

  • CAC 40

    8,020.71
    +24.07 (+0.30%)
     
Money:

The retirement income gap no-one is talking about

People are living longer than ever before and this can impact how you plan for retirement

Apache (APA) Sees Hammer Chart Pattern: Time to Buy?

Zacks Equity Research
Updated

Apache Corporation APA has been struggling lately, but the selling pressure may be coming to an end soon. That is because APA recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.

What is a Hammer Chart Pattern?

A hammer chart pattern is a popular technical indicator that is used in candlestick charting. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer, and it can suggest that the market has found a low point in the stock, and that better days are ahead.

Other Factors

Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. In the past 60 days alone 3 estimates have gone higher, compared to 1 lower, while the consensus estimate has also moved in the right direction.

ADVERTISEMENT

Estimates have actually risen so much that the stock now has a Zacks Rank #2 (Buy) suggesting this relatively unloved stock could be due for a breakout soon. This will be especially true if APA stock can build momentum from here and find a way to continue higher of off this encouraging trading development. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Zacks’ Best Private Investment Ideas

While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.

Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Apache Corporation (APA): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research