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APPEN LIMITEDAA

APPEN LIMITED

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APX trade ideas

APX: Cautious View With Levels I May Try to Catch the KnifeAfter announcing full year results, Appen LTD ASX: APX continued its downward slide to touch support in the 15 AUD region. APX has rallied somewhat recently, but momentum has barely turned positive on the daily and continues to remain negative on the weekly timescales. The 15 AUD level matches up with a past peak in Aug/Sept. 2018 and I believe will be a key area to break before APX can move lower. May and June are typically less bullish months for Australian stocks and that combined with APX continuing to show weakness under the moving averages, I believe we may set a new medium term low in June/July before any bounce into the Half Year earnings report as shorts cover. My expectation is that the 13-14 AUD range will be tested, possibly even lower. If the RSI's line up with both Weekly and Daily oversold with momentum turning less negative, I may accumulate for a possible rally into earnings. Depending on the outcome of earnings in August as well as the general market trend, I could see a trend reversal occurring or a possible move lower to further support in the 8-10 AUD region at which point I might buy the dip. Short term resistance seems to be in the 17 AUD region. Definitely risky on the short term but an interesting company to me long term. What do you think?
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by preying_mantis
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$APX - APPEN - Breaking through resistance to new highs$APX - APPEN - Breaking through resistance to new highs Appens looking good at the moment. Bit of volume coming through should keep it going. I'm currently up around 20% so far from first purchase. Might look to top up if it looks to continue with a bit of pressure taken off the RSI / retrace and rebuild. Appen Limited is engaged in the provision of data solutions and services for global technology companies and government agencies. The Company operates through two segments: Content Relevance and Language Resources. The Content Relevance segment provides annotated data used in search technology (embedded in Web, e-commerce and social engagement) for managing relevance and accuracy of search results. The Language Resources segment provides data used in speech recognizers, machine translation, speech synthesizers and other machine-learning technologies for devices, including Internet-connected devices, in-car automotive systems and speech-enabled consumer electronics. Its solutions include search technology, such as whole-page evaluation and query categorization; language technology, such as phonetic transcription, sentiment analysis, speech-recognition training data, and conversational data; social technology; crowd sourcing, and project management for global deployments.
ALong
by zAngus
APX - Seems that it has found SupportSince the March 2020 lows of around $15.00 to the Highs of $43.60 recorded in late August 2020, we have witnessed weakness in price value, but I think that APX has now found good Support at around $22.00 level, which is also 78.6% Fibonacci Retracement. I think that we may see some Consolidation (Accumulation) or a rise in price above the mentioned Support Level of $22.00, imminently. MACD has crossed, indicating a decrease in Bearish Momentum and RSI bouncing off the Oversold region which also suggests that Buyers have found value at these current levels and we may witness a bounce in price soon. My Initial Target for the trade will be the next Resistance Zone between $31.00 - $32.00. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ALong
by AsimMirzaTrader
Prediction of a price correctionSo the red line is the price point we are continually retesting and rejecting as you can see it's been rejected three times at the moment i do see an upwards channel happening like it did prior between start of 2019 and Jul however the volume does not reflect the previous bull run, instead, it seems to be dropping and the rise is much more steep than a healthy gradual build like before, which may signal a price correction. I don't think the price will exceed $28 and is looking to be forming a double top before dropping. *This is in no way trading advice, simply an opinion
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by SpudSquad
APX - APPEN Ready to go short! But long term bullishAppen has experienced strong growth over the last few months hitting new Highs in the stock, off the back of profit upgrades and improving market sentiment. This months US earnings have shown that US tech stocks are performing well, however we are still early in the reporting season. Furthermore trade talks are between US and China are ongoing, with the market forming the view that a deal will be reach as a no deal would be detrimental to both countries (more so China with its slowing growth. President Xi, has doubled down on removing risks in their market, a sign that not is all is well in their economy). RSI has popped out of channel with impending MACD crossover. New support could be at $14.30, which will be a good entry point. NB: Stock could still hit new highs with quarter earnings report, this would be positive catalyst followed directly by a short.
AShort
by Bipolar_trader