Chart of the Day: A Portfolio Holding Gets a Lift From an Unlikely Source
A semiconductor name is helping to raise this ETF to new heights.
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If I told you a semiconductor company had the heaviest weighting in the First Trust NASDAQ Cybersecurity ETF CIBR you probably wouldn't believe it. But that is true.
Broadcom AVGO has the largest weighting in this fund, and the third biggest position in the ETF is equipment name Cisco Systems CSCO. The move to the upside recently by Broadcom is simply stunning, but with CIBR a holding in TheStreet Pro Portfolio, we'll happily take it. The ETF moved into all-time high territory this week and continues to look strong.
If you look at CIBR chart, below, the ETF is in a major channel of higher highs, higher lows. That is a textbook uptrend. The MACD (moving average convergence/divergence) is showing a bullish crossover, and momentum is strong as it shows by the stochastics (pane 3).
The candles in the top pane are blue again, alternating between teal and blue. \That means this ETF remains bullish (it has been this way since early September) based on the GoNoGo composite of indicators.
Money flow has improved but is clearly challenged. Perhaps CIBR's interest in Broadcom and some other heavy names such as CrowdStrike CRWD and Palo Alto Networks PANW will push the ETF even higher in 2025.
We like the CIBR in TheStreet Pro Portfolio and rate it a Two, or stockpile on pullbacks.
At the time of publication, TheStreet Pro Portfolio was long CIBR.
