This is no longer a small startup with only revenues and no...

This is no longer a small startup with only revenues and no profits, with revenue growth of 200%. This is now a entering a mature growth phase compared to smaller startups who can achieve explosive growth due to starting from a low base.

For companies in their more mature phase of their growth like Altium (ASX:ALU), they trade range-bound until the next results then continue to go up like a staircase.

I discovered Altium at $4 but unfortunately sold out way too early (I was in my early investor years, thought I was a trading god hah). It moved to $8 traded in a range. Then next report moved it to $10-15 very quickly. Next report moved it to $20-24. Next report moved it to $30-34. There wasn’t much time spent outside of those ranges, but once reports are in and they continue their growth, the market rewards it by matching their PE to the new set of earnings.

Similarly with Appen, I found the company at $4 and held on this time. $4-$4.60 range bound. Next report jumped to $5.50-$6. Then $8. Then around $10 for 6 months. Then $11-14 for 6 months when the “2018 tech wreck” was in full swing. Now range bound $22-26. I would not expect this range to break before the next report. However, a good time to buy would be at the bottom of this range before the next leg up. Bottom of the range is $22. I’m being a tightarse and only willing to buy at $21.50 but in all honesty I should fork out a couple of shillings more and grab shares for $22 a piece.