Mariner Energy Acquisition Could Help Apache Break Out

Filed under: Stocks to Buy

Apache Corporation (APA) announced last week that it plans to acquire Mariner Energy Inc. (ME) in a $4 billion transaction. Typically when we see one company announce that it is going to acquire another company, the stock price of the company doing the acquiring goes down in the short term. But in the long term, this acquisition may help Apache's stock price break out.



Apache has been stuck in a consolidation range for a few months now. The stock price keeps bouncing back and forth between a slightly down-trending resistance level and an up-trending support level.

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Mariner Energy Acquisition Could Help Apache Break Out originally appeared on BloggingStocks on Mon, 19 Apr 2010 18:00:00 EST. Please see our terms for use of feeds.

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