Mar. 8 at 2:59 AM
$APP bulls need a weekly close above
$529 and they need it soon.
That dotted line is the pivot. Below it, this is a distribution. Above it, the ascending channel is intact and the correction was just a shakeout.
RSI is approaching the same level it was at before the entire
$40 →
$745 run started. Last time that happened the stock went up 18x.
Bull case: reclaim
$529 → channel support holds →
$600+ reopens. RSI reset = reloaded.
Bear case:
$529 stays resistance, next support is
$385 then
$362. Lose those and long-term channel support at
$292 is the target.
This is still one of the best fundamental stories in adtech. But the chart needs
$529 back.
Watching the weekly close.
#APP #AppLovin #hovdid