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Apollo Global Management(APO - Get Report), a global alternative asset manager, is trading up 3.2% at $22.57 in recent trading.
Today's Volume: 693,000
Average Volume: 518,044
Volume % Change: 144%
From a technical perspective, APO is ripping higher here right above some near-term support at $21 with above-average volume. This stock has been uptrending strong for the last four months, with shares soaring higher from its low of $12.82 to its recent high of $23.85. During that trend, shares of APO have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of APO within range of triggering a breakout trade. That trade will hit if APO manages to take out its 52-week high of $23.85 with high volume.
Traders should now look for long-biased trades in APO as long as it's trending above near-term support at $21, and then once it sustains a move or close above $23.85 with volume that hits near or above 518,044 shares. If that breakout triggers soon, then APO will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $25 to $28.