APPF has broken upper trendline, but throwbacks are possible and there is not a clear uptrend in place. If you look at the pattern, this stock has been in this rectangle for quite a while and momentum will be needed to get out of the pattern it has been dwelling in for quite a while..
Broke up from a C&H pattern at 161.41 and has been in this rectangle ever since.
Throwbacks back in to a rectangle are common as price is comfy there.. some swing trade inside and this is a tall rectangle for sure.
The prior 2 "waves" or impulses were a partial rise and did not touch the top trendline.
Rectangles are periods of consolidation Price came from below to start the rectangle top pattern. As a rule it is a continuation pattern but can not be taken for granted until a break of a trendline, be it the top (R) or bottom (S) is broken in a clear trend in that direction.
A lot of volume noted at 172ish.
NV and OBV is very high. Short interest ha salways been on the higher side for this stock so hard to judge, but is 5.78%
Posted targets are placed at 50% and 100% of rectabgle width, but a variety of fib levels can be used as a target up or down.
Just an observation
Broke up from a C&H pattern at 161.41 and has been in this rectangle ever since.
Throwbacks back in to a rectangle are common as price is comfy there.. some swing trade inside and this is a tall rectangle for sure.
The prior 2 "waves" or impulses were a partial rise and did not touch the top trendline.
Rectangles are periods of consolidation Price came from below to start the rectangle top pattern. As a rule it is a continuation pattern but can not be taken for granted until a break of a trendline, be it the top (R) or bottom (S) is broken in a clear trend in that direction.
A lot of volume noted at 172ish.
NV and OBV is very high. Short interest ha salways been on the higher side for this stock so hard to judge, but is 5.78%
Posted targets are placed at 50% and 100% of rectabgle width, but a variety of fib levels can be used as a target up or down.
Just an observation