Good technical signals and a possible breakout for APOLLO GLOBAL MANAGEMENT INC.

Our stockscreener has identified a possible breakout setup on APOLLO GLOBAL MANAGEMENT INC (NYSE:APO). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:APO for potential opportunities.

Technical analysis of NYSE:APO

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

We assign a technical rating of 10 out of 10 to APO. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, APO is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that APO is one of the better performing stocks in the market, outperforming 91% of all stocks. We also observe that the gains produced by APO over the past year are nicely spread over this period.
• APO is part of the Financial Services industry. There are 101 other stocks in this industry. APO outperforms 88% of them.
• APO is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month APO has a been trading in the 106.92 - 115.89 range, which is quite wide. It is currently trading near the high of this range.

Check the latest full technical report of APO for a complete technical analysis.

How do we evaluate the setup for NYSE:APO?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:APO has a 9 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, APO also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 115.53. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 114.53, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:APO

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.