$APPN potential bottom complete (3/5)

3 janv. 2022

Conviction: 3/5
could drop to support (June 2018)


General Thesis

• weekly RSI hovering around oversold levels, and showing potential double bottom
  
• Currently hovering around resistance/support line established in August 2019
  
• Using Elliott Wave Theory this could be end of wave C, although better to wait for confirmation (1-2)
  

Growth

• Gross margins (70%) is a lot higher than past few years
  
• Revenue growth (20%) is about historical average, bounce from lows in 2020
  

Value

• P/S at around historical average, although very high compared to rest of market
  
• P/FCF is negative
  

Potential Risks

• could drop to support (June 2018)
  
• history is very short
  

13 janv. 2022

Note

42.3 ish looks like better entry!