Trade Alert - Apollo at New Lows

Published on Wednesday, 17 October 2012 12:34 Written by TradersHuddle Wire

New York, October 17th (TradersHuddle.com) - Shares of Apollo Group, Inc. (NASDAQ:APOL) booked a new 52 week low by trading below $25.77. Traders are definitely monitoring Apollo's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.

Apollo Group, Inc. (NASDAQ:APOL) provides higher education programs mainly for working adults. The Company provides educational programs and services at the high school, undergraduate, and graduate levels online and on-campus through subsidiaries.

Apollo is currently trading -18.79% versus its previous trading session close, and it has calculated support and resistance at $27.50 and $29.37 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 0.49% from its previous trading close, which means that Apollo stock is underperforming the overall market.