$APP is testing a critical level — IPO VWAP. This isn't just a random line on a chart. It represents the average price paid by every buyer since the company went public, and it often acts as institutional memory during deep corrections.

I don't catch falling knives, but I do pay attention when a high-quality name revisits foundational support.

Earnings are projected to nearly double from $13.07 to $25.09 by 2028. If that trajectory holds, this pullback could be setting up one of the better risk/reward entries we've seen in a while.

IPO VWAP isn't a magic line, but it's where conviction gets tested — and where the next leg often begins.