Appen is a global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence. Founded in 1990 it has developed into a market leader position in an increasingly automated and data rich world. Customers of Appen have now realise the value of data and the possibilities that can be unlocked through understanding data to leverage value through Artificial intelligence. In doing so companies can automate there businesses and services, whilst also achieving productivity gains.
We expect the Appen price to bounce from an identified support of 10.55, as we recognize Appen shares have consistently bounced from previous support levels in its history. Recent market volatility has placed downward pressures on the stock and created a buy opportunity in our opinion.
Even in worsing market conditions we think that customers of appen will continue demand its services, in light of the imperative to develop AI competitive edges and productivity gains.
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Massive drop on the Nasdaq has pushed the stock beyond the support level. Will monitor next few days.
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Rebounding markets!, some positive news from Mr Trump about resolving trade issues with China.
Figures from US look positive with a strong US economy and near full employment. China has also announced some stimulus spending. Commodities prices such as Iron ore at $71.