demyanchuk
Long

VRNT Typical bulls' trend formation

NASDAQ:VRNT   VERINT SYSTEMS INC
During monthly and local inclined resistance levels' breakouts double bottom with approval have formed and very probable pennant is forming now.

Our recommendation is to buy.

Entry point 34.50 (enter the position only after the break out of top pennant's line)
Stop-loss 33.53 (-1tic 33.54pennant's low)
Take profit 40.00 (according to strong resistance level+Elliot's waves+target sizing approach)
Risk/return ratio 1: 5.67
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