Apache Corp. (APA) — This natural gas and crude oil producer has been in a bull market since a breakout from a “W” formation in late July 2009.
The short-term support line running parallel to the major bull market support line has held since the breakout and, along with the 20- and 50-day moving averages, provided solid support.
The oil and gas sector is receiving major attention, and APA is one of its stars.
The trading target for this stock is $120, but investors may want to hold this high quality driller for longer-term appreciation.
Standard & Poor’s rates APA a “five-star strong buy.”
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