Coming off a recent rebound high post secondary, pennant has been identified. Showing support today at 3.12, resistance at the top of the previous channel around 3.28. Tuesday may bring us a PR of a concrete "earnings date" , boosting the stock back to the high 3.20s. Coiling up to 3.20-3/25 area prior to the ER on 12/14-12/15. Red shaded ellipse showing the...
Here we see the clear channels APDN traded in prior to and during the bull run until late October when the bear case article was released. I speculate that the bearish price action immediately preceding the article where it dipped into the upper bull channel, that a drop from the peak bull channel was imminent. The article was aptly timed for it's short attack....
Multiple Bullish Drivers and rationale here: Potential Earnings Surprise in under 2 weeks PPS has fallen dramatically, and bounced on the topside of the establish "Inherent Value Channel", before being pushed to the bottom half of the channel on a secondary offering, which should show plenty of available cash Pro Forma on the 10K. Company is in a strong growth...
I'll publish another char in a sec, with a longer time frame showing the trend channel we're in.
New pennant formed and bottom support found on top of old pennant. Multiple indicators showing buy, or close to flipping to buy. Slow Thanksgiving week trading, then potential PR or Pre-earnings run, at latest case run on earnings to form next wave in pennant. Minor resistance(R1) around 3.45, break above it a solid buy signal.
Clear double bottom showing. First late Oct after Bear article published and 2nd today on offering announced. Couple other indicators here showing reversal is very close at hand. Earnings due in a couple weeks, If earnings are a hit this really has room to run.