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asdf098
Jan 3, 2022 8:00 PM

$APPN potential bottom complete (3/5) Long

NASDAQ:APPN1W
Appian CorporationNASDAQ

Description

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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

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42.3 ish looks like better entry!
Elliott WaveSupport and ResistanceOscillatorsjanuary2020buyriskybuy
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