I’m lovin’ this flag on $APP – May 21, 2024
This is Scott with StockMarketMentor.com and your Chart of the Day. I want to take a look at Applovin ( NASDAQ: APP ).
I’ll be honest, I am loving this pattern right now. This stock is in a well-defined uptrend and above all the major moving averages and is printing a bit of a short-term flag. In my opinion, this is a pretty bullish pattern because it is a continuation pattern that should offer some further upside with a move through that level coming on volume.
Now, one thing that I also love about this chart is the volume. It’s been going up on high volume and pulling back on low volume. So while it is in consolidation the sellers are not super aggressive. I would definitely have an alert on this stock right around that $85.00 range, and look for a strong move through that level coming on volume.
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