NEW YORK, NY / ACCESSWIRE / June 8, 2018 / U.S. markets were mixed Thursday as a selloff in technology shares weighed in major indexes. The Dow Jones Industrial Average increased 0.38 percent to close at 25,241.41, as two-thirds of its components closed in the green. The S&P 500 Index fell 0.07 percent to close at 2,770.37, while the Nasdaq Composite Index was down 0.7 percent to close at 7,635.07.
"The selloff in the tech sector today appears to be technical, as these stocks had rallied a lot over the previous sessions, with many shares setting all-time highs," said Quincy Krosby, chief market strategist, at Prudential Financial.
RDI Initiates Coverage on:
Apache Corporation
https://rdinvesting.com/news/?ticker=APA
Oasis Petroleum Inc.
https://rdinvesting.com/news/?ticker=OAS
Apache's stock jumped 5.48% Thursday, to close the day at $41.75. The stock recorded a trading volume of 5,287,532 shares, which was above its three months average volume of 4,407,975 shares. In the last year, Apache's shares have traded in a range of 33.60 - 51.21. The share price has gained 24.26% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $41.07 is above its 200-day moving average of $40.58. Shares of the company are trading at a Price to Earnings ratio of 12.24. Shares of Apache have gained roughly 5.78 percent in the past month and are down 1.11 percent year-to-date.
Access RDI's Apache Corporation Research Report at:
https://rdinvesting.com/news/?ticker=APA
On Thursday, shares of Oasis Petroleum recorded a trading volume of 8,568,940 shares, which was below the three months average volume of 10,751,642 shares. The stock ended the day 3.59% higher at $12.97. The share price has fallen 5.33% from its 52 week high with a 52 week trading range of 6.69 - 13.70. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $11.71 is above its 200-day moving average of $9.41. Shares of the company are trading at a Price to Earnings ratio of 24.94. Shares of Oasis Petroleum have gained roughly 14.37 percent in the past month and are up 54.22 percent year-to-date.
Access RDI's Oasis Petroleum Inc. Research Report at:
https://rdinvesting.com/news/?ticker=OAS
Our Actionable Research on Apache Corporation (NYSE:APA) and Oasis Petroleum Inc. (NYSE:OAS) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
contact@rdinvesting.com
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
