$CYBR 3 Weeks Tight / Breakout & Retest

is in the internet security business and this sector is looking healthy. I like this one for several reasons. First, it is in an upward sloping trend channel. It has just closed in a 3-week tight pattern. CYBR has also been testing the area of resistance to the upside for a few months. It broke out 6 weeks ago but did not have the volume. However, it did have a volume pocket pivot 3 weeks before that. Since that break-out it has come back to retest the upward sloping channel line and broke out again from that resistance area.

I do not have a position, but I will be looking to start one if the market is positive next week and this moves above $169 where I have my alert. All TBD.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Note

Based on today's action I have started a 1/2 sized position With a stop below yesterday's low. Not todays. Below is a daily chart and volume is running at near double average rate.

Note

I will be looking to add to this position if / when it moves over yesterdays high. My alert is set at $169.50. I want to see additional volume too. TBD

Trade closed manually

Not acting well in this market. I have closed it with a $3 profit per share. Back on the watch list. Although I am looking at which may be a better trade. I may post on that one later.

Trade active

Back into today with a 1/4 sized position. It had am upgrade this morning by JP Morgan with a new price target of $200. Let's see what happens.

Trade closed manually

This is lagging the market today. No sense in putting money where it's not working. sold for 85 cent loss. Put money in instead.

jaxdog

Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

jaxdog

Also on: