Apollo (APOL) opened strong and moved lower to trace out a bearish engulfing during the day on Tuesday. It is interesting that APOL is not moving higher with the market and that this bearish candlestick pattern formed at resistance. Follow through below Tuesday's low would confirm the pattern.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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