$APPLIED DIGITAL CORP(APLD)$ Another trading week for APLD is in the books. It was another frustrating one, but we got through it. I'm personally glad we closed above the day's lows.
Here's an observation, though it doesn't necessarily predict the direction for next week. Based on how I have my MACD set up, APLD's reading is more negative than it has ever been historically.
That doesn't signal a bottom, but it does indicate a rapid move below the key moving averages.
This shift occurred following news of three new leases with a single tenant, and the RFS at PF1-2 coming online, which means APLD is officially generating more revenue and demonstrating execution.
As for next week, I'm hopeful and leaning towards a move up. Given everything APLD is accomplishing, I find it hard to believe we'll see much further downside, even though I've been surprised before.
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