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

The Mighty Have Fallen! TSLA and NVDA On...

March 15, 2024

Important Inflection Point in FXI: Is It Time...

April 18, 2024

China Tariffs Drive Upside for Rare Earth Minerals

May 15, 2024

Nasdaq DROPS on Weak AMZN, TSLA & GOOGL...

February 8, 2025

Boyz to Men — Step Back to Small...

September 27, 2023

MEM TV: Nasdaq Flat But These Top Areas...

December 2, 2023

January: NASDAQ Has the Best Odds of Gains,...

January 4, 2024

MEM TV: How to Tell When It’s Safe...

September 27, 2023

Hidden Gems: A Simplified Method to Find the...

July 19, 2023

Sector Rotation Signals an Important Week Ahead for...

September 22, 2023

    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

    • Breakout Watch: One Stock in Each Sector to Watch Now

    • Small Caps Are Rotating In — Here’s Why It Matters

    • Want Faster, Lower Risk Trades? Use This Setup

    • The Seasonality Trend Driving XLK and XLI to New Highs

    • Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

    • Apollo Silver; Right Assets, Right Management and Right Time

    Categories

    • Business (1,283)
    • Investing (2,658)
    • Politics (3,699)
    • Stocks (1,709)
    • 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