APPN breaks above 200-day moving average for the first time since September 28, 2018
Appian Corporation (APPN) Technical Analysis Report for Jan 11, 2019 | by Techniquant Editorial Team
Moving higher for the 6th day in a row, APPN finished the week 14.94% higher at 30.93 after gaining $0.58 (1.91%) today on high volume, significantly outperforming the S&P 500 (-0.01%). Today's close at 30.93 marks the highest recorded closing price since September 28, 2018.
Daily Candlestick Chart (APPN as at Jan 11, 2019):
Friday's trading range has been $1.26 (4.13%), that's slightly below the last trading month's daily average range of $1.45. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently just the same than usual for APPN.
Appian managed to close above the 200-day moving average at 30.47 for the first time since September 28, 2018.
With another close above the upper Bollinger Band, prices are confirming their strong upward momentum in the short-term. A drop back into the Bollinger Band on the next trading day though might signal a potential change in momentum that could lead to a correction back down towards the center of the Bollinger Bands at 27.21.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.