APPLIED THERAPEUTICS, INC. - [APLT]

Aug 22

Overview :

• Trend: The price is consolidating after a strong uptrend in early 2024. It seems to be in a range-bound phase between approximately $5.50 and $6.50.
  

Bollinger Bands :

• The Bollinger Bands are relatively wide, indicating increased volatility.
  
• The price is currently testing the upper band, which often acts as resistance. A breakout above this band could signal the continuation of the uptrend.
  
• The price bouncing off the middle band (usually the 20-day SMA) supports the possibility of further upward movement.
  

Volume :

• There is a noticeable volume spike in late July, which corresponds with a price increase. However, recent volume appears lower, which may suggest a consolidation phase or a lack of conviction in the direction.
  

Support and Resistance :

• Support: Around $5.50 (lower boundary of the range and previous lows).
  
• Resistance: Around $6.50 (upper boundary of the range). A breakout above this level would be a bullish signal.
  

Candlestick Patterns :

• The recent candlesticks show some bullish activity, as indicated by the price moving up after touching the middle Bollinger Band. However, the wicks on the upper side of the candles suggest some selling pressure near the $6.50 level.
  

Conclusion :

• Bullish Scenario: If the price breaks above the $6.50 resistance level with strong volume, it could signal a continuation of the uptrend, potentially leading to a move towards higher resistance levels, such as $7.00 or $7.50.
  
• Bearish Scenario: If the price fails to break above the resistance and falls below the $6.00 level, it might head towards the lower Bollinger Band or support around $5.50.
  

Monitoring the volume during these key levels is crucial to confirm any breakout or breakdown.