$APO - Apollo Global Mgmt forming a bullish ascending triangle pattern on the daily chart. Monitor for a break through $36.50 resistance level.
Long term target - $44.00 by year-end
Note: Informational analysis, not investment advice.
BOUNCING UPWARD FROM LOWER BOLLINGER LIMIT. ENTRY POINT WHEN BREAKOUT UPWARDS OF HIS EXPOMOV AVG AND SECONDARY TREND LINE OCCURS. LONG FOR ABOUT 2 MONTHS FOR AT LEAST A 15% PROFIT. LET´S SEE HOW IT PLAYS OUT!
APO has the potential to breakout of a double bottom. Great momentum and low P/E makes this look extremely attractive right now. Entering with 25% of portfolio and a 10-15% profit target with 5% stop.
Why I like this stock:
The stock bounced at the 10 EMA.
The candle did a nice indecision candle and an indecision candle after a little retracement is great for a bounce on the upside.
The stock has been in a great upside move for months so when you see a big move on the upside and then a retracement, there is great chance that the stock will continue higher ....