Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>APLS stock price has been experiencing a bullish trend since August this year.</a></li>
 <li><span>2</span> <a>The company has reported revenue growth of more than 400% in the recent quarter.</a></li>
 <li><span>3</span> <a>The current price is trading just near its resistance and a breakout could be near.</a></li>
</ul>
<p>Massachusetts-based biopharmaceutical company, Apellis Pharmaceuticals, Inc. (NASDAQ: APLS) facilitates the discovery, development, and commercialization of novel therapeutic compounds. It is used to treat diseases with high unmet needs. Apellis is a mid-cap firm with a market cap of $5.7 Billion and it was founded in 2009.</p>
<h2 class="wp-block-heading" id="strong-why-the-apls-stock-is-rising-strong"><strong>Why the APLS Stock is Rising?</strong></h2>
<p>The APLS stock price started rising after the quarterly reports in March 2023. The revenue in this quarter locked at $44 Million, making a growth of 211%, along with a gross income growth of 181%. Although the company is still losing its funds in operations, the earnings before interest and taxes are negative.&nbsp;&nbsp;</p>
<p>Fast forward to another report of the quarter ending in June, the revenue went up to 4 folds. The company reported a revenue of $94M, which was up by 481% on a year-on-year (YoY) basis. Since the net profit is negative during all these quarters, the profitability ratios like return on equity or earnings per share are invalid.</p>
<h3 class="wp-block-heading" id="strong-debt-is-a-problem-while-cash-is-the-solution-strong"><strong>Debt is a Problem While Cash is the Solution</strong></h3>
<p>The company’s balance sheet shows a lot of cash and equivalents, because of which the current ratio is 5.1. Moreover, the company is on the higher side of debt, as the debt-to-equity ratio is 1.29.&nbsp;</p>
<p>This states that the company has 29% more debt as compared to its cash reserves and share capital. This is a result of its negative retained earnings as the company is making net losses.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-apls-stock-price-strong"><strong>Technical Analysis and Prediction of the APLS Stock Price&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/if3FA-r_BrHi1M0BT38ocQ7PuhNzb7zcsMYcK68dlxj0aLT3lFjB9xhsfB54ONKLr31WrrHDU3AS3H5T9u_S3dGLg1kCkEsD2hMqj0tqp1vOgCKO11WBmW6angqqrwCBr1gTpjSaSurWB1kIOkvA8FU" alt="APLS Stock Price: 4x Revenue Growth Made the Shares Surge">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NYSE%3AHMY" rel="noopener noreferrer nofollow"> TradingView </a>&nbsp;(Daily time frame)
  </figcaption>
 </figure>
</div>
<p>Currently, the APLS stock price has bounced back from its immediate support of $36.04 and is presently trading at $48.4. However, the stock is close to its first resistance level of $51.28. If the price surpasses these two pivot levels on either side, the second support level will be at $23.02, while the second resistance level for the APLS stock price will be $64.8.</p>
<p>The Relative Strength Index for the APLS <a href="https://www.thecoinrepublic.com/2023/10/16/hmy-stock-price-investors-shouldnt-miss-this-gold-stock/" rel="noopener noreferrer nofollow">stock</a> price is at 64, near its oversold level of 70. However, if the stock price rises over the current resistance, the RSI will touch its oversold levels, creating a selling pressure on the bulls.</p>
<p>The price prediction for the APLS stock price will depend upon the next two candles. If the price sustains above the resistance level, it will move to its 2nd resistance. Otherwise, it will make a touchdown at its support level.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Apellis Pharmaceuticals Inc. (NASDAQ: APLS) is a biopharmaceutical company. It has given extraordinary revenue growth in the last two quarters. The stock price, at the press time, is near a resistance level and the prediction is looking bearish.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $36 and $23</li>
 <li><strong>Resistance Levels: </strong>$51 and $64</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

APLS Stock Price: 4x Revenue Growth Made the Shares Surge

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 16, 2023

ProShares gets ready to introduce a novel ETF with a short ether strategy.

XRP Surges Amidst Rumors of BlackRock’s Bitcoin ETF Approval

Cubiswap Finance puzzles users with $425k withdrawn via deployer address

FTX Bankruptcy Estate Stakes Huge Crypto Assets Amid Ongoing Trial!

What’s Happening in Ethereum, the King of Altcoins? Detailed Graph Analysis and Key Levels

Radiant Capital (RDNT) Price Prediction 2024, 2025, 2030, 2040, and 2050

Join our free newsletter for daily crypto updates!