Apollo Group Inc. (NASDAQ:APOL) is a leading online education and training company. The company reported another second quarter loss in it’s legal and financial training units. The stock is declining sharply lower by $4.25 cents to $38.10 a share. Apollo Group stock does have some intra-day support around this $38.00 level. Should this support area fail to hold up the next intra-day support area will be around the $36.00 level. Short term traders can watch for an intra-day bounce around this support area.
Often when a leading stock rallies or declines sharply other stocks in the sector will trade with the stock in sympathy. Therefore, traders should watch stocks such as Corinthian Colleges Inc. (NASDAQ:COCO), and Career Education Corp. (Nasdaq:CECO ), and DeVry Inc. (NYSE:DV ) which are stocks in the same sector that could be in play this morning.