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Possible Bullish Inside Day Candle Pattern Detected for Apollo Group (NASDAQ:APOL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Apollo Group (NASDAQ:APOL) based on the price action in the company's shares. Today's price range of $8.91 and $8.97 is within yesterday'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 Group 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 Group Incorporated provides higher education programs for working adults. The Company provides educational programs and services at the high school, under graduate, and graduate levels online and on-campus through subsidiaries.

Over the past year, Apollo Group has traded in a range of $6.31 to $17.40 and is now at $8.95, 42% above that low. The 200-day and 50-day moving averages have moved 1.12% lower and 0.33% higher over the past week, respectively.

Apollo Group has overhead space with shares priced $8.95, or 5.8% below the average consensus analyst price target of $9.50. The stock should find resistance at its 200-day moving average (MA) of $9.02, as well as support at its 50-day MA of $8.03.

SmarTrend recommended that subscribers consider buying shares of Apollo Group on February 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.53. Since that recommendation, shares of Apollo Group have risen 4.4%. We continue to monitor APOL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle APollo Group

Ticker(s): APOL