Apollo Tight Range between the 50 and 200Day

Published on Friday, 05 March 2010 07:04 Written by Danny Miller

New York, March 5th (TradersHuddle.com) - Shares of Apollo Group, Inc. (NASDAQ:APOL) closed the trading session at $61.17 near its 50 day and 200 day moving averages currently set at $60.31 and $63.67 respectively. Apollo's price action is above the 50 day moving average but below its 200 day moving average, which provide a nice trading setup, with clear reference points.

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.

A tiered approach to enter the stock, appears to be the best way to maximize possible movements from the stock, as traders could enter Apollo with a small position and wait for the stock to break out above the 200 day moving average at $63.67, where traders could add to their position as momentum builds with the breakout. The flip side will be if support being referenced at the 50 day moving average set at $60.31 breaks it could mean further downside in the horizon for Apollo.