Antero Resources Corp. (AR) is an independent oil and natural gas company engaged in the exploration, development, and production of natural gas, NGLs, and oil properties located in the Appalachian Basin. Hedge fund manager David Tepper has a long position in the company so I wondered what the charts looked like.
In the daily bar chart of AR, below, we can see that the shares have been trading sideways in a long triangle-looking pattern since May. Prices have made lower highs and higher lows and now it looks like we have reached an apex.
Trading volume has been mostly neutral looking but the daily On-Balance-Volume (OBV) line shows us an upward trend the past 12 months, telling us that buyers of AR have been more aggressive than sellers. Prices have made several tests of the rising 200-day moving average line since late September.
The Moving Average Convergence Divergence (MACD) oscillator has moved around the zero line and is just slightly above it now.