Possible stop below lower shoulder or where you see support. Long entry level is a break of the neckline with an uptrend. SPLK has broken neckline but there is only 1 green candle so far that is over the neckline today. Appears it opened above the neckline this morning. Many would wait for confirmation or a retest of the neckline support especially since there has been a throwback already.
The 200 is a bit droopy, but the 50 has crossed up and through the 200 which is known as a golden cross. The 20 SMA is a bit droopy. The 50 and 100 are sloping up.
Negative volume is very high. Short interest is 3.66%. I note there is some bearishness out there in posts and articles on SPLK. There is a suspicious W near the head. This could just be a double bottom, but I still see a W.
A Throwback is when price breaks long entry level, in this case the neckline, only to return under it in a short amount of time. Possibly the throwback due to bad market days especially for tech. I would think this one could be a bit tricky since tech stocks have been having some really bad days, a long with everything else almost, but thought I would throw it out there. Looking at the sector's performance can help and timing is super important. This one is not at a high, or even close like many other's in it's sector.
There is also a gap below price that may provide support.
No recommendation.
Splunk Inc. provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities. It also provides Splunk Solutions, such as Splunk Security solutions that enable cybersecurity teams streamline the security operations workflow, accelerate threat detection and response, enhance threat visibility, and scale resources to increase analyst productivity through machine learning and runbook-driven automation; Splunk IT Solutions that provide IT Operations teams visibility and control across cloud and on-premises environments; and Splunk Observability Solutions for building and maintaining infrastructure and applications. In addition, the company offers Ecosystem Solutions, which includes pre-built data inputs, workflows, searches, reports, alerts, custom dashboards, flexible UI components, custom data visualizations, and integration actions and methods, as well as Splunk On-Call, Splunk Infrastructure Monitoring, and Splunk Phantom solutions, which provides APIs, SDKs, and other interfaces that enable its ecosystem, including third-party developers, partners, and customers to build content that configures and extends Splunk solutions to accommodate specific use cases. Further, the company provides adoption and implementation services, education services, and maintenance and customer support services. It sells its offerings directly through field and inside sales, and indirectly through various routes to market with various partners. Splunk Inc. has a strategic partnership with Tenable Holdings, Inc. to secure active directory and converged operational technology environments. The company was incorporated in 2003 and is headquartered in San Francisco, California.
The 200 is a bit droopy, but the 50 has crossed up and through the 200 which is known as a golden cross. The 20 SMA is a bit droopy. The 50 and 100 are sloping up.
Negative volume is very high. Short interest is 3.66%. I note there is some bearishness out there in posts and articles on SPLK. There is a suspicious W near the head. This could just be a double bottom, but I still see a W.
A Throwback is when price breaks long entry level, in this case the neckline, only to return under it in a short amount of time. Possibly the throwback due to bad market days especially for tech. I would think this one could be a bit tricky since tech stocks have been having some really bad days, a long with everything else almost, but thought I would throw it out there. Looking at the sector's performance can help and timing is super important. This one is not at a high, or even close like many other's in it's sector.
There is also a gap below price that may provide support.
No recommendation.
Splunk Inc. provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities. It also provides Splunk Solutions, such as Splunk Security solutions that enable cybersecurity teams streamline the security operations workflow, accelerate threat detection and response, enhance threat visibility, and scale resources to increase analyst productivity through machine learning and runbook-driven automation; Splunk IT Solutions that provide IT Operations teams visibility and control across cloud and on-premises environments; and Splunk Observability Solutions for building and maintaining infrastructure and applications. In addition, the company offers Ecosystem Solutions, which includes pre-built data inputs, workflows, searches, reports, alerts, custom dashboards, flexible UI components, custom data visualizations, and integration actions and methods, as well as Splunk On-Call, Splunk Infrastructure Monitoring, and Splunk Phantom solutions, which provides APIs, SDKs, and other interfaces that enable its ecosystem, including third-party developers, partners, and customers to build content that configures and extends Splunk solutions to accommodate specific use cases. Further, the company provides adoption and implementation services, education services, and maintenance and customer support services. It sells its offerings directly through field and inside sales, and indirectly through various routes to market with various partners. Splunk Inc. has a strategic partnership with Tenable Holdings, Inc. to secure active directory and converged operational technology environments. The company was incorporated in 2003 and is headquartered in San Francisco, California.
Comment:
If the 20 crosses down through the 50, which it is trying to do and I forgot to put an orange X it, that would be a bearish crossover and probable pull back. The 200 is sloping down a bit. This moving average would relate to the longer term and needs to slope up.
Comment:
This has been a struggle to say the least!