Shooting Star Takes Shape in Apollo $APOL

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Apollo (APOL) hit resistance at broken support last week and then formed a shooting star this week. This shooting star represents a failed intraday rally. Notice how the stock surged to 32 on Tuesday and then fell to close near 31. This failure also occurred when the market rallied on Tuesday. The indicator window shows MACD(5,35,5) just above its signal line. A move below the signal line would indicate a downturn in upside momentum.


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Arthur Hill
About The Author:

Arthur is Chief Technical Strategist at TrendInvestorPro.com. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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