This software stock has been on a wild ride. Where it's going next, according to the charts

March 5, 2026

TL;DR

Positions in the IGV Software ETF are being exited as price targets have been met.
AppLovin's stock has shown extreme volatility, trading between $740 and $360.
The stock exhibits a double top formation around $740 and has broken a support level at $510.
The $510 level is now acting as resistance, with the stock reversing at its 200-day moving average.
The current rally from recent lows is seen as a potential shorting opportunity, with an expected retreat to $425.
A break above $520 would signal a potential recovery, but the current optimal reward is skewed to the downside.

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