Staircase pattern should have brought the second leg up to $300. Oversell because of the weak market should result in overbought territory as drawn in the green triangles .
- Be cautious for more downside due to the markets rolling over, further downside can destroy this Technical Analysis
APPN is forming a pennant, which is considered a continuation pattern. Volume has weakened throughout the pennant, which is in line with the formation. If there is a breakout to the upside, the move should be at least 1/2 the length of the flagpole, which means we would probably revisit ATH. This doesn't need to happen overnight (and doesn't need to happen at all...
