SPLK looks like a great short opportunity IMOSplunk looks to have several indicators having a bearish divergence recently in addition to it breaking below the 8day MA. If it breaks/closes below the 20day MA it's headed back to $141-$138 level in my opinion.
Happy hunting.
My opinions only.
SPLK
SPLK
SPLK - Bull Flag BreakoutThe daily chart of Splunk broke out of a bull flag pattern yesterday & has seen its bullish momentum continue in today's trading. The stock is also trading above heavy VPVR levels which can allow it to continue to run higher.
My first two price levels are based on a Fibonacci Extension. The third target is a combination of both the Extension level & the bull flag pattern price target so I am paying close attention to that level.
$SPLK Software making a comebackSoftware stocks have been hit a lot lately but they seem to be making a comeback with better charts. $SPLK is one that is lagging but is making a triangle and is almost at the apex. Its a do or die situation for it but I believe it resolves itself upwards. With earnings scheduled for around Nov 20, it has plenty of time to consolidate more or just go north now.
SPLK Trendline Swing TradeI'm trying a new strategy,
2 week trade. Sept 27 exp. Cost $1.89
Profit target is $217.70, Cost to cover is $122.85
2.31% of Capital. Good position.
This strategy may work out we shall see if SPLK is bearish only downside is I have 2 positions now. However this is simply a test. Lets see how it pans out.
SPLK Put Spread$2.01 Cost of spread $110/105 Put spread
Exp Oct 18
Cost of max loss is $130. Max gain is $200
This looks rather bearish against the core market which made a breakout after RSI started to rally against reduced momentum on the bear side.
This trade looks fine. Probability is good and reward is decent too.
Potential 20%+ Return on SPLK SPLK has been on a good uptrend for the past couple years as a growing company and recently reached a strong support. Potential good buy with a 20+ return over the next couple months.
Bull Flag - breakout on watchhasn't boomed as much as comparable tech/ cloud companies - can move up if volume ramps
target is $35 for next few months
SPLK Put SpreadPut Spread $3.25
Target Profit is $340. Max loss is $195 Expiry is October 18th.
Max loss is if it flys up to 120 and blows me up and if it continues trending it may move lower to 100 its more likely as negative news may outweigh the market next month but these china concessions are interesting we'll see how it works out.
Max gain is $100 target on the underlying
Splunk Could Have A Ton of Downside Left...SPLK Shown is the lifetime channel of SPLK Splunk. As shown in the chart, it has been bouncing around near the channesl resistance for some time, and without in any way breaking its pattern could see the Mid 60's-70's. This represents a 40% drop. However, a catch on the uptrend support line and ride back up to the channel resistance represents about a 35% gain. Therefore, from this current position, it is still a watch and wait. If it loses support, I will short on the retest. If it catches convincingly on support, I will go long. I don't like getting in when its in that in-between stage. If you were short today, congrats on the gains. If you are looking to get in, might wanna look elsewhere until we reach key levels. Happy hunting and GLTA!!
SPLK long setupSPLK price going with strong trend line. possibly buy. wait for 123 pattern. I also watching this one .
Splunk undervaluedLook at the volume at earnings day on 24 August 2018. 11 million(average daily volume is 2million) at median price $119, low was $115 which is current price... Zoom into 30 minutes chart during the earnings day and you will see the low $115 happened for only the first 30 minutes... and the 6 hours were at $119 plus for that day. This means it was severely skewed toward $115... and most people(prob institutions or D traders) bought it for $119. This shows that people are willing to buy at $119. We have at least $4 t o$10 of room for growth. Since it is Friday the price will drop a little more and bounce up next week. I highly suggest buying it today Friday and sell it on Monday or even next Friday or before the next earnings. This stock is way undervalued in the scope of 1-3 months. Just for confirmation RSI also indicates this is a good time to buy.
SPLK Short using Murdrae indicatorSPLK Short using the Murdrae indicator.
The murdrae indicator has given a sell signal along with a bear trend (white background)
