Fireye Butterfly Pattern targets $40
Fireye is moving bullishly today in a down market. It's actually been outperforming the market since the start of the year. Maybe it's one of those January effect stocks - tax selling to end the year and investors are coming back to it in 2015?
I see a harmonic butterfly pattern in Fireye that would project price to go up to $40 within about 18 days. $40 is a level the stock struggled at back in July '14 and i think it can get back up to that level within this butterfly.
It also broke above 34.40 today, which marks a recent break above a double top. Rumor also has it that the President will be making a speech this week about cybersecurity, so perhaps some government contracts are in the works for the industry.
I see a harmonic butterfly pattern in Fireye that would project price to go up to $40 within about 18 days. $40 is a level the stock struggled at back in July '14 and i think it can get back up to that level within this butterfly.
It also broke above 34.40 today, which marks a recent break above a double top. Rumor also has it that the President will be making a speech this week about cybersecurity, so perhaps some government contracts are in the works for the industry.
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