Activity Observed in Apollo Global Capital (APL)
Apollo Global Capital, Inc. (APL), formerly Yehey! Corporation, has been trading in a listless fashion within a range for the last two years. It’s only until recently that trading activity has relatively picked up. Back in May, it appeared that the stock was being accumulated at around Php0.0370 to Php0.4000 especially by a client of Papa Securities which happened to be the seventh largest shareholder in the stock that owns 3.34 billion shares (~Php133 million pesos worth) as of end of December 2019. Buying 70 million shares at the said price range would seem to be an ‘accumulation’ since the stock was very illiquid at that time (difficult to sell the position unless an increase in trading activity was expected). Anyhow, we noted that since it was being absorbed at ~Php0.0400, a rebound all the way back to the top end of its range at Php0.0500 was possible. Fast forward to today, one can see that the stock has indeed catapulted by a hair short of its Php0.0500 resistance. While the stock is still facing a resistance at the Php0.0500 mark, a possible break past it later on may then lift it to its next resistance at Php0.0600. Note that the stock’s next resistance above Php0.0600 can be seen at Php0.0700. Remember, this stock is not for everyone given its speculative nature. Should one choose to trade it, it is best that a strict stop should always be placed and respected at all times. Caveat.
APL write-up from the Trading Edge Equity Advisor:
May 7, 2020
Here’s a range play seen on a third liner (and speculative stock) in Apollo Global Capital, Inc. (APL). As you can see, the stock has been trading within a range with a support at Php0.0360 to Php0.0370 and a resistance at Php0.0500 since the start of the year. Its close proximity against the said floor may then lead it towards the top end of its Php0.0500 resistance. Moreover, we have likewise observed that the stock is being accumulated around its range’s floor. Papa Securities, for example, has bought a little over 70 million shares which is actually an amount that is difficult to sell given the stock’s lack of liquidity at present (unless of course he is expecting its liquidity to surge down the line). By the way, a strict stop should be placed under Php0.0360. Caveat.
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