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APOLLO GLOBAL MANAGEMENT INC (NYSE:APO) showing some interesting technicals. Here's why.

By Mill Chart

Last update: Mar 18, 2024

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.

APO Daily chart on 2024-03-18

Analyzing the Technical Aspects

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous 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.

  • The long and short term trends are both positive. This is looking good!
  • When comparing the yearly performance of all stocks, we notice that APO is one of the better performing stocks in the market, outperforming 94% of all stocks. We also observe that the gains produced by APO over the past year are nicely spread over this period.
  • APO is one of the better performing stocks in the Financial Services industry, it outperforms 95% of 103 stocks in the same industry.
  • 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.
  • APO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

Our latest full technical report of APO contains the most current technical analsysis.

Why is NYSE:APO a setup?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:APO currently has a 9 as setup rating:

APO has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 112.71. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 109.83, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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.

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APOLLO GLOBAL MANAGEMENT INC

NYSE:APO (5/24/2024, 7:14:15 PM)

After market: 115.52 0 (0%)

115.52

+2.64 (+2.34%)

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