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Apache Gets Tomahawk Chopped

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August 19, 2013 – Comments (1) | RELATED TICKERS: APA

This morning, leading independent oil and gas explorer and developer Apache Corp (NYSE:APA) is coming under sharp selling pressure. Today, the stock is trading lower by $2.56 to $76.43 a share. Earlier today, the stock was downgraded to hold from buy at Stifel. Short term day traders should watch for an important intra-day support level around the $75.50 level. This is an area where the stock could see an intra-day bounce. It is important to note that the stock is signaling weak relative strength to the major stock indexes on an intra-day basis, so if the major stock indexes drop or decline sharply APA stock is vulnerable to trade lower as well.

Nicholas Santiago
InTheMoneyStocks.com 

1 Comments – Post Your Own

#1) On August 19, 2013 at 3:24 PM, awallejr (77.67) wrote:

so if the major stock indexes drop or decline sharply APA stock is vulnerable to trade lower as well.

Really?

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