APA (APA) Recently Broke Out Above the 20-Day Moving Average

After reaching an important support level, APA (APA) could be a good stock pick from a technical perspective. APA surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.Over the past four weeks, APA has gained 9.1%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.Once investors consider APA's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 7 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.Investors may want to watch APA for more gains in the near future given the company's key technical level and positive earnings estimate revisions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks