Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

Finding Emerging Leaders within Key Groups

by June 15, 2024
June 15, 2024
Finding Emerging Leaders within Key Groups

The broader market is fairly mixed with one clear leader: technology. I am also seeing mixed performance within the technology sector and within specific groups. Semiconductors are strong overall, but groups like cybersecurity are more mixed. This makes it a stock pickers market. In such conditions, I am looking for individual stocks that are emerging as leaders. Today’s article will focus on CyberArk Software (CYBR), which was covered this week in ChartTrader.

The chart below shows CYBR breaking out of a falling wedge with a strong advance over the last two weeks. It is an emerging leader because it recently broke the 50-day SMA and exceeded its mid May high (breakout). In addition, the overall pattern and retracement look like a correction within a long-term uptrend. CYBR is well above the 200-day SMA and the decline back to 225 retraced around half of the prior advance, which was a whopping 80%. Thus, we have a two steps forward and one step backward sequence for the long-term uptrend.

The indicator window shows the price-relative (CYBR/RSP ratio) turning up in June and breaking its mid May high. This means CYBR is starting to outperform the broader market again (relative strength). Thus, we have a long-term uptrend and break above the May high on the price chart. We also have a price-relative breakout to signal relative strength. This is a bullish combination.  A strong breakout should hold so I would set a re-evaluation level on a close below 235 (green line).

Looking for more emerging leaders? This past week we covered two more cybersecurity stocks, a semiconductor name with a classic correction and a few healthcare stocks. ChartTrader reports and videos also cover broad market trends with a focus on SPY, QQQ and MAGS. Click here to learn more and gain immediate access.

//////////////////////////////////////////////////

0
FacebookTwitterGoogle +Pinterest
previous post
How to Stop the “Wealth Destroyers” by Deploying Your Sell Methodology
next post
Week Ahead: NIFTY May Stay Tentative; Look For Stocks With Strong Relative Strength

Related Posts

Are You Ready for a Huge Selloff?

August 19, 2023

Alibaba and China — Can They Push Through...

August 12, 2023

Top Ten Hidden Features of StockCharts, Features 1-5

November 9, 2023

Bitcoin, Politics, and Profits: What You Need to...

June 14, 2024

From Selloff to Surge: Growth Stocks Rebound After...

January 12, 2024

Top 5 Stocks in “Go” Trends | Fri...

June 29, 2024

Week Ahead: NIFTY Stares At Crucial Support; RRG...

February 11, 2025

HYG Shares Outstanding Showing Excessive Enthusiasm

December 15, 2023

Three Leading Growth Stocks Testing Gap Support

February 17, 2024

S&P 7000 By End of 2024?

March 28, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Confused by the Market? Let the Traffic Light Indicator Guide You

    • Which Will Hit First: SPX 6100 or SPX 5100?

    • Investment Portfolio Feeling Stagnant? Transform Your Path Today

    • Where the Market Goes Next: Key Resistance Levels + Top Bullish Stocks to Watch Now

    • Recession Ahead? Sector Rotation Model Warns of Rising Risk

    • Crypto Market Recap: Bitcoin Breaks US$100,000 as ETF Inflows Rise, Coinbase Makes US$2.9 Billion Power Play

    Categories

    • Business (1,183)
    • Investing (2,412)
    • Politics (3,699)
    • Stocks (1,558)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved