Cyberark (CYBR)- Bullish Bounce Likely From These Levels!
Friends,
Cyberark had lost its way a little, coming out of main channel resistance and floundering around since then. But we finally have some clear direction.
1. We've seen multiple bullish buy signals at the buying range, although most have failed so far, they've shown bullish intention.
2. Dragonfly doji bang on the 61.8 retrace of previous impulse leg, and supported right off the 50EMA. People were reluctant to see price drop below the 50
3. Signal broke sideways resistance range, now we just need to see break above main channel resistance to ensure safe entry
4. Piercing signal, spinning top/kicker signal all present, all bullish.
5. Yesterdays candle broke the 20EMA resistance with gap up, bullish presence is clear now.
I may buy some shares today, and increase my position after double resistance break. OR I will buy all my position above resistance break. It depends on how the stock is behaving.
Last position bought in this was 05/02/2015. And stock performed well.
Risk rewards are 8.3 (aggressive) and 6.50 (For safer entries)
Cyberark had lost its way a little, coming out of main channel resistance and floundering around since then. But we finally have some clear direction.
1. We've seen multiple bullish buy signals at the buying range, although most have failed so far, they've shown bullish intention.
2. Dragonfly doji bang on the 61.8 retrace of previous impulse leg, and supported right off the 50EMA. People were reluctant to see price drop below the 50
3. Signal broke sideways resistance range, now we just need to see break above main channel resistance to ensure safe entry
4. Piercing signal, spinning top/kicker signal all present, all bullish.
5. Yesterdays candle broke the 20EMA resistance with gap up, bullish presence is clear now.
I may buy some shares today, and increase my position after double resistance break. OR I will buy all my position above resistance break. It depends on how the stock is behaving.
Last position bought in this was 05/02/2015. And stock performed well.
Risk rewards are 8.3 (aggressive) and 6.50 (For safer entries)