Do you enjoy making something with your hands, hanging out with friends, or sports?
I enjoy sports, mainly badminton and cycling.
And sports can get quite addictive.
So much so that I’d gone for a cycling race last week in Batam!
In my mind, I was prepared to cycle uphill because I’d heard that Batam is hilly.
But the terrain turned out to be much tougher!
As I cycled uphill and down, I was constantly thinking about my life decisions.
Huh? How is trading related to cycling uphill and downhill?
The stock market isn’t always trending higher or flat.
It moves in waves: up, down, and sideways at times.
We, traders, must think likewise and follow the market.
Phillips 66 (PSX) was shared last week and a swing trading entry emerged.
Let’s see if it heads higher this week!
Shall we now turn our attention to this week’s swing trading opportunity: Apollo Global Management (APO)?
Performance Of US Stock Market vs Apollo Global Management (APO)
The very 1st step in your analysis is to determine the trend of the stock you’re considering.
From the chart above, can you tell that the share price of Apollo Global Management is in a strong uptrend?
Following the trend increases your chances of success.
What else can you infer about the share price of Apollo Global Management?
Since mid-July 2023, the shares of Apollo Global Management have been outperforming the S&P 500. This is a positive sign as it raises the chance of you making outsized returns.
There are just a couple more pointers to analyze before taking a swing trade on Apollo Global Management’s shares.
How Explosive Is Apollo Global Management (APO)?
The next thing you want to consider is the ability of the stock to shoot up in price in a short time.
Such explosiveness is helpful for swing trading.
Are the up moves of Apollo Global Management’s shares explosive?
The shares of Apollo Global Management have enjoyed 13 upward bursts, measuring between 6.2% and 23%.
For a company with a market capitalization of more than $50b, this is magnificent!
Therefore, you’ll want to perform the next stage of analysis to identify an excellent potential entry point.
Key Price Levels
Here, you’ll want to know where the potential obstacles could be.
This can be done by uncovering its key price levels, which is often known as support and resistance.
I’ve helped you uncover a resistance area at ~$92.
Why is this price area important?
If the share price of Apollo Global Management can break out of this price area this week, it could make a very profitable swing trade.
The Strategy You Can Use To Swing Trade Apollo Global Management (APO)
After comparing the performance of APO with the broader US stock market, determining whether APO has experienced explosive up moves, and identifying its key price levels, it’s time to talk strategy.
To stay in business, you must know your entry, profit taking, and stop loss levels in every trading strategy. Yes, trading is a business, which means that your strategy must be well thought out.
Using The Art of Explosive Profits (AEP) framework, I’d like to see APO breakout around $92 before considering an entry for a swing trade.
As the name implies, you’ll be looking to consistently catch an explosive move in a short period of time.
Instead of relying on news and hearsay, the AEP course will teach you how to screen stocks for swing trading like APO.
You’ll also learn how to read charts and identify stocks that are about to make a big move.
Finally, you’ll learn how to identify the optimal entry, stop loss, and take profit levels to capitalize on these explosive moves (in a safe manner, of course)!
Can you apply the AEP framework to provide you with a side income while working full time?
Yes, you can!
Come, have a look at the AEP framework and incorporate this explosive trading strategy into your arsenal to capitalize on more swing trading opportunities.
Why Is Swing Trading APO Worth It?
Though the S&P 500 has been falling for more than 1 month, APO has been rising. This outperformance gives APO a higher chance of making you outsized returns.
APO has shown its capability of exploding upward in price, making it a suitable candidate for a swing trade.
Its share price is near its resistance area. If a breakout happens sometime this week, it’s likely for its share price to head higher, bringing in profits.
While we wait for the setup, please keep in mind that I’m not a financial advisor, so please treat this as infotainment and conduct your own research.
Lastly, all images are from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com.
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