December 10 Chart of the Day - Apollo Global
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Apollo Global Management (APO) is one of the world’s largest alternative asset managers, specializing in private equity, credit, and real assets with trillions in assets under management.
After an explosive run to new highs followed by a sharp pullback, price is now stabilizing inside a key retracement zone where buyers and sellers continue to battle for control.
Traders are watching to see whether this structure leads to a rotation back toward the highs or a deeper retrace toward long-term trend support.
We'll review the chart from a price action perspective to identify potential levels of interest in both directions.
The charts highlight key levels where investors and traders alike will be watching closely.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 675+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method®
Monthly Chart
The monthly chart shows a strong multiyear uptrend that accelerated into a peak at $189.49 before price reversed sharply. That reversal drove APO directly into the 50 percent retracement near $105, which has now acted as support. Price is currently trading retracing its way back to the upside.
What stands out is how cleanly APO respected that 50 percent area after the reversal. A reclaim of $156.29 could shift momentum back toward $170.73 and $176.75. Until then the stock may be stuck in the mid-range between the major retracements.
The rising trend line visible on the weekly chart intersects with the deeper support cluster around $125 to $114, forming a long-term structural base if price breaks lower.
With plenty of volatility traders have had much to be happy with and long term buy and hold investors have been greatly rewarded.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
The weekly chart provides a clearer picture of the consolidation underway following the heavy selloff from $189.49.
Key levels include:
• 61.8 percent retracement resistance at $156.29
• The -23.6 percent retracement overlap near $152 to $153
• Rising trend line support near the $125 to $114 region
• Larger swing supports at $104.49 and $84.41
APO continues to oscillate inside a wide range. After the initial selloff, price held above the rising trend line and has been attempting to build a base. The recent push higher shows buyers attempting to retest the $156.29 level again.
If APO clears the 61.8 percent retracement and holds above it, there is open air toward the upper targets at $170.73 and $176.75. Failure there likely sends price back to the rising trend line.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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