APPN
APPN Breaking outAPPN breakout today, if momentum continues we are likely to test 275 level very soon
APPN Setting UpAPPN looks great as it consolidates on the 10-day moving average. This stock was a beast in November but has gone quiet recently. Really nice risk/reward if we get a breakout before earnings.
Ichimoku entry APPNchose this one today mainly because of the nutty volatility but with the caveat that i'm not going to go with the algorithmically generated stoploss, instead setting it at the cloud bottom. I'm not about risking a -23% trade lol
APPN forming a pennant; possible breakout soonAPPN 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 although the bias is continuation of the previous trend) so we should monitor the price from here. Also, the last touch on the pennant lower line conicided with the .5 fib retracement level, which provided extra support. I have a position in APPN and am looking to add more at these levels with a tight stop loss below the lower line of the pennant.
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APPN wait for correction or ride to next resistance 25% upsideAPPN approaching previous resistance. Tracking for entry opportunity. Will either form new support or get rejected down to previous support with a 10% pull back.
$APPN Fib Retracement $APPN
Testing out this theory. $APPN levels work out almost exactly with the Fib Retracement tool wave 1 and 2. Testing the fib timeline tool for wave 3 which indicates slightly higher before entering wave 4 retracement back to $113.60 buy-zone in mid-late December.
"I'm not an expert but I have watched a number of youtube videos"
NASDAQ:APPN
software and organization - up 46% from marchAPPN
software and organization - up 46% from march
we will break down from here to fill the gap and retrace to the .618 or .786
High probability + big upside in this stock. Gorgeous chartThis is a pretty incredible inverse head and shoulders trend continuation pattern.
Interestingly enough, APPN had a similar pattern from January 2018 through August 2019, where it finally broke out, producing a profit in excess of 45% from the breakout point to the high:
Keep an eye out for a possible false breakdown. The best trades tend to run and never look back, but be mindful for a possible inside pattern correction like WORK had in the chart here:
Perfect patterns do not always make it easy. But this is some golden price action...
Appian long. but short-termthis graph shows everything better. possible testing $44 before going to the $33 low. good for options but SHORT-TERM. not ready for long term yet.
