One final name with some decent insider buying is
(APA - Get Report)
, which is an independent energy company that explores, develops and produces natural gas, crude oil and natural gas liquids. Insiders are buying this stock into modest strength, since shares are up sharply by 10.8% so far in 2013.
Apache has a market cap of $33.8 billion and an enterprise value of $46.3 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings of 13.60 and a forward price-to-earnings of 10.94. Its estimated growth rate for this year is -13.8, and for next year it's pegged at -2.4%. This is not a cash-rich company, since the total cash position on its balance sheet is $184 million and its total debt is $12.78 billion. This stock currently sports a dividend yield of 1%.
A director just
bought 10,000 shares, or about $861,000 worth of stock, at $86.13 per share.
From a technical perspective, APA is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock has been uptrending strong for the last month, with shares moving higher from its low of $75.07 a share to its recent high of $87.76 a share. During that uptrend, shares of APA have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of APA within range of triggering a major breakout trade.
If you're bullish on APA, then look for long-biased trades as long as this stock is trending above some key near-term support at $84, and then once it breaks out above some key overhead resistance levels at $87.76 to $88.43 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 3.46 million shares. If that breakout triggers soon, then APA will set up to re-test or possibly take out its next major overhead resistance levels at $94 to $100 a share.
To see more stocks with notable insider buying, check out the
Stocks With Big Insider Buying
portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com
. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.