APPS: Buy at $29.66 Profit Target at $88.68 HTF Pattern

This stock is on a rampage. It has formed an high tight flag (HTF) after flag. It is looking like it will be forming another flag pretty soon. For more information on the flag you can read the IBD article below

investors.com/how-to-invest/investors-corner/emulex-hoisted-a-high-tight-signal-flag-before-its-breakout/

This pole would be given about 1-2 more weeks to see if it works out to the upside. This is different from what I have drawn because shapes on a chart is an art. It is really hard to know but can only statistically guess what might happen next. That is why you always have to pay to the market now and not the one a month or two ago. A big plus is that 5% of the stock is changing hands everyday and the price was up 3% last week versus down 4% last week even after a 700% run up since the March bottom. Their insitutional ownership is great and has been steadily increase in the past year although no tiptop funds have reported yet. Below is fund ownership, sales and yearly EPS

Number of Funds owned
Sep-19 189
Dec-19 238
Mar-20 235
Jun-20 275

Sales
Sep-19 +38%
Dec-19 +18%
Mar-20 +45%
Jun-20 +93%

Yearly EPS
2018 -0.05
2019 0.08
2020 0.2
2021 0.45
2022 0.58

This is a stock to be put on your watch list but as always watch out for the market condition to make sure the bears aren't taking over.