$APPN Breakout?

Looks like it broke out today on about 20% higher volume than the last 10-day average. It was not a Pocket Pivot as the volume did not exceed the highest down volume in the last 10 days. However, there have been 2 Pocket Pivots Since the Earnings announcement on May 9th. I missed this 9 ½% move today and I think it may be extended. I will be looking for either a consolidation in this area or better, a pullback to the breakout area over the next several days or weeks.

The notations on the chart show we are above an 18-month AVWAP for a few days now and today over an area of resistance for over 10 months. All in all, very bullish IMO. Since earnings it has regained the 40-week MA, the 50 DMA and all shorter-term MAs. This goes on my ready list for any consolidation or pullback because there is not much to hold this issue back other than some shorter-term profit taking.

I hope this helps someone. Ideas, not investing / trading advice. Constructive comments always welcome. Thanks for looking.

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There has been a slight pullback, not as much as I wanted but I decided to open a 1/4 size position. Tight stop under area of support.

Brent_Calver

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Brent_Calver

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