ASX: APX (Appen Ltd.): Breaking Out of Downtrend?

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 potentially bullish news events until the half-year results are announced in late August. Potential reasons to be bullish: 1. Yields (at least in US bonds) have been dipping significantly which is a positive for growth stocks like APX 2. A stronger dollar is a positive for Appen as most of its income comes in the form of USD from US tech companies. I will be eyeing setting up a long position if APX dips into the green accumulation zone I have shown before August.