Charts of the Day

Harry's Charts of the Day videos are available to members on Monday-Thursday evenings, with one video per week available to non-members. Members please login and see Charts of the Day in the "Videos" menu dropdown.

Charts on CYBR, LITE, MXL, OCLR & More — Stock Charts to WatchRSS

Charts of the Day video for Monday July 25th, 2016

This video is no longer available.
CyberArk Software, Ltd. (CYBR) is part of a strong group of cyber security stocks.  After the big downtrend that took it from the mid-70's a year ago to the low-30's in February, the stock has been in a strong up-channel.  On Monday it broke above a triple-top, with a move up 1.40 to 55.00.  Watch for a test of the highs from last August in the low-to-mid 60's.
 
Lumentum Holdings Inc. (LITE) had a signfiicant breakout on Monday across multiple tops.  The stock gapped up and closed near the high for the day, up 2.99, or 10.8%, to 30.48.  Volume of 2 million shares was the biggest on an up-day since it went public a year ago.  Watch for an extension of the move toward the channel top at around 35-36.
 
MaxLinear, Inc. (MXL) has been a nearly 2-year up-channel, with a series of steep pullbacks followed by bigger rallies.  It recently recovered nicely off the Brexit low, with a bounce off of rising trendline support.  On Monday it broke above its pre-Brexit highs, which could lead to a move towards the channel top in the high-20's, maybe 30.
 
Oclaro, Inc. (OCLR) also had a signifcant breakout on Monday, popping 60 cents, or 11.4%, to 5.83, closing at the highest level in 5 years.  The stock is trending nicely in a beautiful channel that points to 7 1/2 short-term.  With short interest of 13.7 times its average volume, the stock could be fueled by short covering on an advance.



©2001-2017 TheTechnicalTrader (www.thetechtrader.com), a publication of AdviceTrade, Inc. All rights reserved.