As the market broke out above a 3-week top, this network hardware maker jumped up to new highs.
The SCTR is in the top 5 %, the Full stochastic is bouncing at 50 which is usually a nice bull trait. The stock broke through an 18 month resistance level at $150.
The PPO has turned up confirming the move and appears set to trend higher. Some of these stocks that have been off the radar in the tech area are starting to move.
Greg Schnell, CMT, MFTA
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About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis.
Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter.
He is also the author of Stock Charts for Dummies (Wiley, 2018).