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Bullish Moving Average Cross by Apollo Group (APOL)

Published on Mon, 02/04/2013 - 12:16
By Adrienne Chilton

Today, shares of Apollo Group (NASDAQ:APOL) have crossed bullishly above their 10-day moving average of $20.28 on a volume of 822K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Potential upside of 10.4% exists for Apollo Group, based on a current level of $20.43 and analysts' average consensus price target of $22.56. The stock should hit resistance at its 200-day moving average (MA) of $27.13, as well as support at its 50-day MA of $20.26.

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.

In the past 52 weeks, Apollo Group share prices have been bracketed by a low of $18.36 and a high of $54.38 and are now at $20.43, 11% above that low price. The 200-day and 50-day moving averages have moved 1.47% lower and 0.38% higher over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com