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Possible Bullish Inside Day Candle Pattern Detected for Apollo Commercia (NYSE:ARI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Apollo Commercia (NYSE:ARI) based on the price action in the company's shares. Yesterday's price range of $18.50 and $18.64 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Apollo Commercia may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Apollo Commercia (NYSE:ARI) is currently priced 0.9% above its average consensus analyst price target of $18.38. The stock should hit resistance at its 50-day moving average (MA) of $18.64, as well as support at its 200-day MA of $18.38.

Apollo Commercial Real Estate Finance, Inc. is a commercial real estate finance company. The Company invests in, acquires and manages commercial real estate mortgage loans, commercial mortgage-backed securities, commercial real estate corporate debt and loans, and other real estate-related debt investments in the United States.

Over the past year, Apollo Commercia has traded in a range of $16.41 to $19.57 and closed yesterday at $18.54, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Apollo Commercia and will alert subscribers who have ARI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle apollo commercia

Ticker(s): ARI