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Chapter X: Technical Analysis discovers the range of moods of investors toward APA.


Sentiment Analysis based on Historical Prices and Volumes of APA common stock.



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APA: Week-end Altitude

A well known sentiment indicator is the NVI or Negative Volume Index for Apache. This modern version makes use of several enhancements suggested by Norman Fosback. The plot is the proportion of the daily NVI as compared to the past year's average daily NVI. The plot is orange below the unity line (neutral implication) and green above (bullish).





How to read the Calibrated NVI for Apache:

The NVI is an elegant indicator based on sound principles but it should not be interpreted in a simplistic manner. The orange plot (NVI less than unity) is not considered bearish because a lowering of the NVI is a natural tendancy under many market conditions. When the plot is in the green area, it indicates that prices are rising on low volume sessions, which is contrary to the normal condition. This can be a tip off to "accumulation behaviour" on the part of someone or some group in the market. The indicator seems most significant when prices are falling and the NVI is rising, which indicates a market that is "buying on the dips".




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APA: Negative Volume Index (Fosback NVI)

The NVI resembles a fundamental indicator more than a technical indicator in at least one respect, as it seems to be indicative over a span of months or quarters, rather then the extremely short predictive span typical of many technical signals. This chart for Apache covers the few years before the start of the chart at the top of the page.




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Weekly Average Closing Altitude of Apache

Values above the midline indicate that day traders have positive feelings toward APA while traces below the midline are a sign that speculators are afraid to hold on to the issue overnight. Apache stock prices are shown in red.






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APA: Daily Up Volume vs Down Volume

Here the blue indicates the proportion between Up Volume and Down Volume. Again, the horizontal blue line represents the neutral point. Apache share prices are overlaid in red. This is an important indicator for market timing, as a change in direction of the volume line may happen before the price turns.




For Clients: More Market Sentiment Analysis of Apache

Influence of Investor Sentiment on APA stock prices. Also, roadmap and Summary of most effective indicators:

Public Pages : More APA Technical Analysis Chalk-Talk Subjects

APA Price Forecasts

APA Traditional Time Series Analysis

Moving Averages and MACD Indicators

Multi-Spectral Analysis

Political Season Trends APA

APA Transaction Volume Trends

APA Analysis of Short Term and Long Term Risk

APA Calendar Seasonality

Back to APA Index Page


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We do not recommend the purchase or sale of this or any other issue. Research shows that most people who invest in common stock will lose money. We do not advocate speculation in mutual funds or index funds. Pages on this site are for entertainment and academic purposes only. Charts and concepts are property of Hybrid Technical. All Rights Reserved. Content is Copyright 2008 by Hybrid Technical




Next Chapter 1:

Classical Analysis provides a good overview of the data for Apache, and reveals patterns that will be explored with detail in later sections.


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