Apollo Soars to New Highs!

On Friday, we looked at a Daily Price Chart of TJX Cos., Inc., noting that TJX’s OBV line was sloping up, validating February 20th, 2024 Apollo Soars to New Highs! Dear Reader, On Friday, we looked at a Daily Price Chart of TJX Cos., Inc., noting that TJX’s OBV line was sloping up, validating the stock’s recent bullish trend. For today’s Trade of the Day we will be looking at a Daily Price chart for Apollo Global Management LLC (APO). Apollo Global Management, Inc. is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions. Now, let’s begin to break down the Daily Price chart for APO. Take a look at the chart below. Time to Buy APO The Daily Price chart above shows that APO stock has been hitting new 52-Week Highs regularly since late January. Simply put, a stock does not just continually hit a series of new 52-Week Highs unless it is in a very strong bullish trend. The Hughes Optioneering team looks for stocks that are making a series of 52-Week Highs as this is a good indicator that the stock is in a powerful uptrend. You see, after a stock makes a series of two or more 52-Week Highs, the stock typically continues its price uptrend and should be purchased. Our initial price target for APO stock is 120.00 per share. Now, since APO stock is currently making a series of new 52-Week Highs this means the stock’s bullish rally will likely continue. Let’s use the Hughes Optioneering calculator to look at the potential returns for an APO call option purchase. The Call Option Calculator will calculate the profit/loss potential for a call option trade based on the price change of the underlying stock/ETF at option expiration in this example from a flat APO price to a 12.5% increase. The prices and returns represented below were calculated based on the current stock and option pricing for APO on 2/16/2024 before commissions. Interested in accessing the Optioneering Calculators?[Join Chuck’s Wealth Creation Alliance]( for unlimited access! The Optioneering Team has option calculators for six different option strategies that allow you to calculate the profit potential for an option trade before you take the trade. Boosting Profit Potential When you purchase a call option, there is no limit on the profit potential of the call if the underlying stock continues to move up in price. For this specific call option, the calculator analysis reveals if APO stock increases 5.0% at option expiration to 118.35 (circled), the call option would make 38.5% before commission. If APO stock increases 10.0% at option expiration to 123.98 (circled), the call option would make 86.3% before commission and outperform the stock return nearly 9 to 1*. The leverage provided by call options allows you to maximize potential returns on bullish stocks. The Hughes Optioneering Team is here to help you identify profit opportunities just like this one.  Wishing You the Best in Investing Success, Chuck Hughes Editor, Trade of the Day Unlock Chuck’s trading wisdom through our complimentary text alerts! Enroll today to receive expert tips, live event notifications, and exclusive discounts. [Register for free!]( --------------------------------------------------------------- See Related Articles [Rush Of Volume Pushes T.J. 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