Looking at the stock's (APPS) historical performance, we can see a long lateral phase that lasted about 10 years. It broke out of this sideways trend with a strong bullish rally, reaching a peak of around $100. After that, the uptrend ended, and a downward phase began, following the formation of a Double Top technical pattern.

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The downtrend appears to have stopped near a support zone.

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When zooming in with a lower timeframe, we notice that the downtrend halted around this area. The stock broke a descending trendline and formed a bullish Head and Shoulders pattern. The neckline was broken with strength, accompanied by a substantial increase in volume, coinciding with the release of earnings and revenue reports.

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After the strong rally, the stock retraced and is now sitting at the Point of Control (POC) of a key volume area, which considers the entire history of the stock.

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Bullish Scenario
The stock seems to be in a rebound phase after touching the POC. A continued upward movement could target the $7 area, which aligns with another significant volume area.

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Bearish Scenario
If the POC area fails to hold, one could consider entering at the $1 level, which corresponds to a support area.

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Note of Caution: The stock has experienced a massive loss over three years, dropping from $100 to around $1.50. Therefore, it’s crucial to proceed with caution when evaluating this stock.
APPSdigitalturbineDouble Tophead_and_shoulderHead and Shoulderssupport_and_resistanceSupport and ResistancesupportandresistancezonesvolumeanalysisvolumeprofileanalysisVolume

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