jaxdog

$CYBR 3 Weeks Tight / Breakout & Retest

Long
jaxdog Updated   
NASDAQ:CYBR   CyberArk Software Ltd.
CYBR 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.
Comment:
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.
Comment:
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:
CYBR 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 ZS which may be a better trade. I may post on that one later.
Trade active:
Back into CYBR 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 SMCI instead.

Ideas I publish are my own. These 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.
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