Notes:
* Steady up trend
* Great earnings track record
* Forming a cup and handle like pattern on the monthly time frame for the past ~4years
* Held up relatively really well while the tech sector was being destroyed
* Currently bouncing off its 200 day line and now its 50 day line
* Also forming an inverse H&S pattern and broke out of it
* Bouncing off its 50 day line with higher than average volume and printed a pocket pivot
* Historical resistance comes in around $29.79
Technicals:
Sector: Technology - Software - Infrastructure
Relative Strength vs. Sector: 1.74
Relative Strength vs. SP500: 1.72
U/D Ratio: 1.0
Base Depth: 45.87%
Distance from breakout buy point: -17.22%
Volume 3.69% above its 15 day avg.
Trade Idea:
* You can enter now as the price just bounced off of its 50 day line with higher than average volume and also printed a pocket pivot.
* If you're looking for a better entry you can look for one around the $26.59 area
* This stock usually has local tops when the price closes around 15.27% above its 50 EMA
* Consider selling into strength if the price closes 15.07% to 15.47% (or higher) above its 50 EMA
* The last closing price is 2.86% away from its 50 EMA
* Steady up trend
* Great earnings track record
* Forming a cup and handle like pattern on the monthly time frame for the past ~4years
* Held up relatively really well while the tech sector was being destroyed
* Currently bouncing off its 200 day line and now its 50 day line
* Also forming an inverse H&S pattern and broke out of it
* Bouncing off its 50 day line with higher than average volume and printed a pocket pivot
* Historical resistance comes in around $29.79
Technicals:
Sector: Technology - Software - Infrastructure
Relative Strength vs. Sector: 1.74
Relative Strength vs. SP500: 1.72
U/D Ratio: 1.0
Base Depth: 45.87%
Distance from breakout buy point: -17.22%
Volume 3.69% above its 15 day avg.
Trade Idea:
* You can enter now as the price just bounced off of its 50 day line with higher than average volume and also printed a pocket pivot.
* If you're looking for a better entry you can look for one around the $26.59 area
* This stock usually has local tops when the price closes around 15.27% above its 50 EMA
* Consider selling into strength if the price closes 15.07% to 15.47% (or higher) above its 50 EMA
* The last closing price is 2.86% away from its 50 EMA