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Apollo Global Management (
APO) is a global alternative asset manager. This stock is trading up 2% at $27.14 in recent trading.
Today's Volume: 1.01 million
Average Volume: 839,768
Volume % Change: 149%
Shares of APO are trending higher today after the company reported a 72% increase in first-quarter profit, its best quarterly results as a publically traded alternative asset manager.
>>5 Stocks Poised for Breakouts
From a technical perspective, APO is gapping higher here right above some near-term support levels at $26 to $25.65 with above-average volume. This move has started to push shares of APO into breakout territory, since the stock is flirting with some near-term overhead resistance levels at $27.38 to $27.56. At last check, APO has hit an intraday high of $28.14 and volume is well above its three-month average action of 839,768 shares.
Traders should now look for long-biased trades in APO as long as it's trending above today's low of $26.85 and then once it sustains a move or close above those breakout levels and above today's high of $28.14 with volume that hits near or above 839,768 shares. If APO maintains this move, then this stock will set up to enter new all-time high territory above $28.14, which is bullish technical price action. Some possible upside targets off that move are $30 to $33.