APLD - Blockchain and AI - Data Center Provider - Huge Growth

NASDAQ:APLD   Applied Digital Corporation
Applied Digital Corporation (APLD) is a U.S.-based company that designs, develops, and operates next-generation datacenters. These datacenters are built to provide digital infrastructure solutions primarily for the high-performance computing (HPC) and artificial intelligence (AI) sectors. APLD's business operations are divided into three segments: blockchain colocation services, HPC datacenter colocation services, and GPU cloud services under the Applied Digital Cloud brand.

The company's mission is to create ultra-low-cost digital infrastructure that is environmentally sustainable. Their approach includes constructing datacenters close to power sources, often utilizing renewable energy, which aligns with their goal of promoting more sustainable energy projects.

Disclaimer: This content is for informational purposes only and should not be considered financial advice.

Recent Insider and Block Buys

Investment Snapshot (As of May 17, 2024):
Relative Volume: 1.32
Shares in Circulation: 86.5M
Short Float: 20.59%

Key Technical Levels:
Potential Pullback: There might be a slight pullback to the $3.70 area, which could serve as an optimal entry point.

Support and Uptrend Confirmation: Staying above $4.00 could confirm a potential further uptrend.

Resistance Points: Monitor resistance at $4.50, $5.20, $5.50, and $6.00. Surpassing these levels could signal a positive trend, providing opportunities to take profits at these stages.

Trading Strategy:
Take Profit (TP): Aim for a target profit of $6.50 to fully capitalize on the anticipated price gap closure.

Stop Loss (SL): Establish a stop loss below $3.40 or $3.90, depending on your entry point, to mitigate potential losses.

Chart Analysis:
Please refer to the attached chart for a detailed analysis of price trends and movements.

Trading Advisory:
Exercise caution and consider market conditions and your own risk tolerance when trading. Conduct comprehensive research or consult with a financial advisor before engaging in trading activities.

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