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asdf098

$APPN potential bottom complete (3/5)

Long
Appian Corporation (NASDAQ:APPN)  
asdf098 Updated   
NASDAQ:APPN   Appian Corporation
Elliott Wave Support and Resistance Oscillators january2020 buy riskybuy
2
0
elliottwaves supportandresistance oscillator january2020 buy riskybuy
Conviction: 3/5
could drop to support (June 2018)


General Thesis
  • weekly RSI hovering around oversold levels, and showing potential double bottom
  • Currently hovering around resistance/support line established in August 2019
  • Using Elliott Wave Theory this could be end of wave C, although better to wait for confirmation (1-2)

Growth
  • Gross margins (70%) is a lot higher than past few years
  • Revenue growth (20%) is about historical average, bounce from lows in 2020

Value
  • P/S at around historical average, although very high compared to rest of market
  • P/FCF is negative

Potential Risks
  • could drop to support (June 2018)
  • history is very short
Comment:
42.3 ish looks like better entry!
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