chuckination

SPLK: Rallying on New ATHs and Onward

Long
NASDAQ:SPLK   SPLUNK INC
SPLK is an interesting tech company from a product perspective, but their especially interesting as a tech company from a growth perspective. 38% sales growth over 3 years and 30% growth in the last quarter alone says everything I need to know. They hit a rounded cup base with handle pattern with the cub low in Q3/Q4 of 2018 and the handle low in late Summer of 2019 like many other tech growth companies, and the current market rally is a great time to capture some growth with them from a timing perspective.

Earnings came in a little under expectations, but evaluating SPLK from earnings and not sales is premature. The technical reaction to their last earnings calls was a strongly bullish gap up with rapid momentum, and it's not too late to pick them up before they leave a reasonable buy zone behind. I hold many more positions than those I write ideas about, and some wildly profitable positions never have the time for me to write them up before it's already time to take profit on them. The recent spike in volume on this rally shows that there's some big investors starting to buy into this firm, but it's not too late to get in before the first shake out comes.

Moving averages are all moving upward and diverging bullishly and the MACD histogram is confirming this. RSI is flashing overbought, but that happens on a real rally with a solid growth stock, and the accumulation line is rising higher rapidly. Rate of change on the price is peaking bullish , and the ADX is showing a strong trend forming after months of consolidation earlier this year.

Comments

Nice...i like ur way of analysing stuffs
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