Based on good technical signals, APOLLO GLOBAL MANAGEMENT INC is potentially setting up for a breakout.

We've identified APOLLO GLOBAL MANAGEMENT INC (NYSE:APO) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:APO for further developments.

Analyzing the Technical Aspects

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Overall APO gets a technical rating of 8 out of 10. In the last year, APO was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, APO did better than 93% of all other stocks. On top of that, APO also shows a nice and consistent pattern of rising prices.
• APO is part of the Financial Services industry. There are 102 other stocks in this industry. APO outperforms 93% of them.
• APO is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so APO is performing more or less in line with the market.
• In the last month APO has a been trading in the 105.80 - 117.15 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

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 extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:APO has a 9 as its setup rating:

APO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 114.05. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 109.77, 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.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the 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 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.