Impressive relative strength on this software tech name. Looks about ready to complete its cup with handle base. Commvault Systems Inc (CVLT)- DEVELOPS BACKUP AND RECOVERY, REPLICATION, ARCHIVAL AND STORAGE MANAGEMENT SOFTWARE FOR ENTERPRISES.
CommVault watching wedge for upside breakout
The price itself and the indicators are in favour of a new rise. Whether it will be a real rise or just an upward fluctuation - let's see.
CVLT has recently broken out of a flag position and has decreased in price. However the stock hit prior support and rose in price. The RVI is showing a flag pattern, so we could see a short-term rise in volatility. Also, the RSI is has been rising for the last few days. So, I am putting my long position above the 50 ma which is providing resistance and potential...