Apartment Investment & Management Co

For today's chart we've chosen to take a look at Apartment Investment & Management Co. (NYSE:AIV) because it is testing an influential level of resistance. As you can see from the chart below, the stock has tested the $40.25 level several times over the past few months, but the bears have prevented any substantial rally from occurring. We've noticed that an inverse head-and-shoulders pattern has formed on the chart, which may be used to suggest that the bears are losing control over the direction.

Technically speaking, the appearance of a higher low (shown by the two blue lines) is an indication that the trend may be reversing. It is important to note that bullish traders will likely wait for a close above the horizontal trendline before they enter a position.