Apollo Close to 200 Day Moving Average

Published on Friday, 19 March 2010 07:08 Written by Christian Paolinetti

New York, March 19th (TradersHuddle.com) - Shares of Apollo Group, Inc. (NASDAQ:APOL) traded at $64.63 very close to its 200 day moving average currently set at $63.797. Apollo's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

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.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $55.25 and calculated resistance at $64.8. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Apollo stock.

Traders wanting to establish a position on Apollo will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other ley levels that might affect their upside or downside.