APA Corporation amid positive outlook - Analysis - 13-09-2022

APA Corporation's stock (APA) rose in the last session after Citigroup upgraded the company's rating from neutral to buy, with the stock becoming the second best performer on S&P 500, surging 5.01%, or 1.91 points, and settling at 40.00, with trading volumes surpassing 9.4 million shares, above 10-day averages of 8 million shares. 

Technically, the stock is forming positive divergence in the RSI after reaching oversold levels compared to the stock's movements, amid the dominance of the main upward medium-term trend, with positive support from the 50-day SMA. 

Therefore we expect more gains for the stock, targeting the first resistance of 45.27, provided the support of 37.44 holds on.

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Expected trend for today: Bullish