Stock: APL
Company: Apollo Global Capital Inc.
Support: 0.22 / 0.20
Resistance: 0.27 / 0.30

The retail’s favorite stock, APL, posted a big breakout yesterday and spiked more than +16%. It managed to breach the month-long resistance at 0.2230 towards the latter half of the trading session. This brings the next resistance region to 0.27 to 0.30.

All indicators are showing a spike in buying pressure, but momentum and volatility are low. All things considered, we do not expect another massive breakout anytime soon — sadly, likely no replay of the mid-January mining party — but APL could still rally intra-day.

Whether or not gains will be pared come closing depends on market volume. Monitor APL’s 50-d MA (currently at 0.2200), for it is at this level where it could settle near-term.

Recommendation

Take profits.

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