$APPN potential bottom complete (3/5)Conviction: 3/5
could drop to support (June 2018)
General Thesis
weekly RSI hovering around oversold levels, and showing potential double bottom
Currently hovering around resistance/support line established in August 2019
Using Elliott Wave Theory this could be end of wave C, although better to wait for confirmation (1-2)
Growth
Gross margins (70%) is a lot higher than past few years
Revenue growth (20%) is about historical average, bounce from lows in 2020
Value
P/S at around historical average, although very high compared to rest of market
P/FCF is negative
Potential Risks
could drop to support (June 2018)
history is very short
