• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

Apollo Global Is Poised for a Rally

Here's my first price target and where traders could risk to.
By BRUCE KAMICH
May 19, 2023 | 09:12 AM EDT
Stocks quotes in this article: APO, C

Private equity firm Apollo Global Management (APO) was rated a new fundamental buy at Citigroup (C) with an $80 price target. Let's review the charts and indicators.

In this daily bar chart of APO, below, I can see that prices are higher than they were 12 months ago but it has been a difficult trip. Prices have made a number of deep corrections the past year. Prices made a sharp pullback in March to break below the rising 200-day moving average line. Another break of the line is seen in early May.

The daily On-Balance-Volume (OBV) line shows a different story and has remained very steady in the face of several corrections. The trend-following Moving Average Convergence Divergence (MACD) oscillator is just slightly below the zero line.   

 
In this weekly Japanese candlestick chart of APO, below, I can see some lower shadows in March and May telling me that traders are rejecting the lows. The 40-week moving average line has a positive slope.
 
The OBV line has been steady since last May. The MACD oscillator has been correcting lower but is still above the zero line. 
 
 
 
In this daily Point and Figure chart of APO, below, I can see an upside price target in the $78 area - close to the fundamental price target from Citigroup. A trade at $66.08 should refresh the uptrend. 
 
 
In this weekly Point and Figure chart of APO, below, I can see a downside price target in the $51 area. A weekly trade at $66.08 or higher should generate an upside price target. 
 
 
Bottom line strategy: Traders could go long APO on strength above $66.08. The $78 area is my first price target. Risk to $60.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Fundamental Analysis | Investing | Stocks | Technical Analysis | Financial Services | Analyst Actions | U.S. Equity

More from Investing

Here's How to Lock in a Trade on a Promising Biopharma Name

Bret Jensen
Oct 1, 2023 7:15 AM EDT

This small-cap is developing a promising new gastrointestinal disease-fighting drug and has one already on the market, making it a great options play.

Elite Traders Make Big Profits Using This Trick

James "Rev Shark" DePorre
Sep 30, 2023 10:00 AM EDT

A concentrated position in the right stock at the right time is how you make exceptional profit. Here are the steps that pro traders employ to rack up huge gains.

3 Small-Cap Stocks With Big Dividends

Bob Ciura
Sep 30, 2023 7:00 AM EDT

These names provide shareholders with potential growth in addition to their dividends.

Here's Why Traders Are Cautious Despite Slowing Inflation

James "Rev Shark" DePorre
Sep 29, 2023 4:25 PM EDT

As we say to goodbye to a rough September, let's look what what's weighing on investor sentiment now.

Accenture Is Looking Vulnerable to a Correction: How to Play It Now

Bruce Kamich
Sep 29, 2023 2:13 PM EDT

Shares of the consulting company have turned lower from early September.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 12:13 PM EDT BRUCE KAMICH

    8 Trading Rules from T. T. Hoyne

    You just read the header for this missive and prob...
  • 08:42 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    How Elite Traders Make Big Profits
  • 02:58 PM EDT BRUCE KAMICH

    Classic Trading Rules From Bernard Baruch

    Bernard Baruch listed the rules (below) in his aut...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login