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1. Apache Extends Breakout
By Gary Morrow
1:56 P.M. EDT
Despite a huge drop in commodity prices, Apache(APA Quote) reported a strong first quarter. The stock was up 5% following yesterday's release on very heavy trade.
The shares began Thursday with a powerful gap higher open that lifted them above a six-week base. The consolidation pattern Apache has left behind began in mid-March as bulls picked up shares at a very heavy pace for eight straight days. Apache rallied 20% during this period before topping out at $70.00 on March 19. ...
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