Australia's APPEN is showing signs of a recovery story that's working for now.
As the Chart shows, was bashed Down Heavily by the Market. Is also an AI Play.
While it's still early days, and way below the EMA's and VWAP, could offer further Upside for those Risk On Investors.
The IMACD & CCI Stochastic Momentum Indicators are showing Early Trend Reversal.
Also...
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Pullback into Previous Weekly Open and reclaim would be trigger for me,
or
Above the Macro Mid range consolidate and acceptance above and between MID and range high.. Is trigger for long.
Hold below Weekly open = All bets are off ..
WIth current AI interest n all that, the ultra low SOI of around 125m, and the shape this has taken recently surely this should rip from here
Hard to believe it was trading at $42 around 2.5 year ago
Holding
I have dissected the price action behaviour into two boxes as shown as Box of Tricks 1 and Box of Tricks 2. Why ?
When the previously posted PnF chart Price Target met, it alerted me to a potential end of the down move. No different than that of A2M chart!
Now, If one studies the first box(Box of Tricks 1), break below the support and continuation of the down...
This is to demonstrate the educational side of the PnF charting in terms of bearish price objective calculation. Bearish count taken from the high pole and calculation from it is shown on the chart.
It(Bearish Price Objective) has been met today(29/09/2021)!
Let's now wait and see if the decline will halt at current levels ?
This analysis is for educational purposes only.
Hello guys. As you can see APPEN just double bottomed today. This bullish sign could pump APPEN to about 12AUD (8,85USD). The strong support at 9,58 AUD (7,07USD) should hold in the future and could be a good stoploss.
Do your own research / Trade at your own risk
NOT FINANCIAL ADVICE/RECOMMENDATION ( just my toughts about this stock) :)
Hello guys :). As you can see, APPEN dumped hard and hit crucial support after half year earnings results. If it holds the light purple support we could see a breakout to the first resistance line -10USD- (30% profit).
But there is certainly more possible like the second resistance line -11.15USD (42% profit) or even the third at -19.70-USD (157% profit). For...
APX has been consolidating for a while but the price action is very telling. It plummeted hard since August 2020 after making a peak around $44.00 all the way down to $11.00 in May 2021, ( a Fibonacci retracement of 78.6% since its IPO). The recent price action indicates that the trend may have changed after it broke out of its downtrend line coupled with High...
APX has begun to give indications that it is breaking out of the long term downtrend (see the red trend-band borrowed from Mohammed_Seeker's post). Reasons to be cautious/remain bearish: 1. Stocks are in a seasonally bearish part of the year 2. APX looks like it has been rejected by the 50 day EMA and has been showing weak momentum 3. I do not see any major...
Sometimes catching a wave is hard and other times it's about as easy as buying double A batteries from Woolworths. You pick when and where.
Jokes aside, Appen is setting itself up to bounce off of the 8/1 gann ratio and longer term trend we've seen building over a 12+ month period. The weekly RSI is ticking oversold territory and could work in the favour of this...
