APP Potential Spring - Waiting for backtest
Eyeballing APP here. On the daily we have three drives of classic bullish divergence on the MACD indicating price action reversal. So far, the price has indeed rallied. If APP can successfully backtest that $49.86 previous all-time low close here in late march, then I'll take a long with the chance for a very nice April/May return.
Also, the sellers failed to push the price down to the bottom of that descending channel. Further signalling a greater chance of a reversal and eventual breakout to the upside.
Entry: None yet, need a successful backtest of the spring.
Also, the sellers failed to push the price down to the bottom of that descending channel. Further signalling a greater chance of a reversal and eventual breakout to the upside.
Entry: None yet, need a successful backtest of the spring.
Comment:
No entry here. APP looks like hot garbage. I'm moving on.