There are signs that NYSE:APO may be ready to breakout.

APOLLO GLOBAL MANAGEMENT INC (NYSE:APO) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:APO.

What is the technical picture of NYSE:APO telling us.

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 9 out of 10 to APO. Both in the recent history as in the last year, APO has proven to be a steady performer, scoring decent points in every aspect analyzed.

• 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 96% of all stocks. On top of that, APO also shows a nice and consistent pattern of rising prices.
• APO is one of the better performing stocks in the Financial Services industry, it outperforms 92% of 100 stocks in the same industry.
• APO is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so APO is leading the market.
• In the last month APO has a been trading in the 86.09 - 93.18 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of APO

Looking at the Setup

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 10 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 and the volatility has been reduced. There is a resistance zone just above the current price starting at 91.78. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 89.28, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for APO in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:APO be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice in any way. 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.