APX Charts, page-1176

Lets get into it:

The fundamentals of this company have improved significantly, the tide is turning with a possible ZIP style move ahead.
Daily chart shows some serious daily volume over the past few days, most on record. This is not retail buying.
RSI had a small pullback but is still sitting in overbought territory. Fundamentally I think this stock can move into $1.50 zone quite easily, the question is when and what will drive it - Possibly the end of August report.
Jumping into the 5 minute chart now, today the book was fairly easy to read, small sell orders pushing and tempting the nervous nellies to sell into their buys. Then a few line wipes, all to begin the process again. Once the pockets were full the brakes were released and we had movement well into the 80's.


I also saw what someone had pointed out earlier, a large order of around 500k shares in the auction driving the price down which was removed with moments to go. This closed $APX down 5 ticks from the last price traded, this tells you someone wants this stock lower.

So where to from here?
The move looks close to done, I think we need to see some sideways action before a move up or at the very least shape up on the daily for another break as we approach the end of August. From the recent volumes, people are not in this for a quick flip, Appen may become a company of some substance, after such a fall from grace.
My best guess would be a bit of choppy action leading into the Report end of month - then a rerate so long as there's no hidden nasty's in the numbers.

Price targets, As some of you have pointed out - double this market cap would still evaluate us under some of our peers, however I think this is a reasonable and sensible figure if Appen really is the turn around story we hope for.
At a market cap of 185M, and 223M shares on offer, a price of $1.65 would see us at a doubled market cap of 370M.

I see this as a possibility before years end with the right macro fundamentals.

There has been chatter of takeovers, but I must admit I have not heard much and not willing to speculate here - Anyone?..

All the best from here, will touch base again when the chart reveals something else.

Jake D