Chart of the Week: Apollo Global Management
This week we’re gonna be focusing on Apollo Global Management, a private equity investment company. Chart looks pretty good, let’s take a look at it.
As you can see from the end of October, the stock has made a huge charge from about the mid-$80s all the up to about $113 – more than a 30% move in just under four months. Pretty strong move.
And it’s starting to pull back a little bit, giving you an opportunity to get on board. Now remember something: the best trends barely give you a chance to get on board. So this one is giving you a bit of a pullback here. It’s only down about $4 – 5 from the recent highs.
We see the indicators, like the stochastics and the MACD, have rolled over a little bit here. Again, this is not an indication that the stock is bearish. Rather, it is giving you the opportunity to get on board.
Now, if it pulls back to this 14-day McGinley moving average, about $102 or so would be another ideal spot to add some shares of Apollo.
You see money flow is coming off a little bit. It was really moving at a blistering pace to the upside in the early part of February. But now it’s kind of cooled down a little bit.
We see volume levels – volume trends – are starting to cool down as well too. They were pretty hot early in the month of February and at the end of January.
We think that this pullback here is a pretty good opportunity to add Apollo Global. And if it pulls back even more, then buy some more shares.
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