Chart of the Day: This Cybersecurity ETF Is Positioned to Move Substantially Higher
The price action is really starting to fire up.
You've reached your free article limit
You've read 0 of 1 free Pro articles.
The indicators for the First Trust Nasdaq Cybersecurity ETF CIBR are turning bullish, and that means we should see price action really starting to fire up. The last time time this occurred, indicators ahead of price, was in February. A dip back then was bought up vigorously and the CIBR moved to higher levels.
Notice the current situation with pink candles (cautiously bearish) on the GoNoGo composite of indicators. But the stochastic (momentum, in pane 4) are racing higher, MACD (moving average convergence divergence) is still on a buy signal, the parabolic SAR (stop and reverse) is still on a buy signal. This indicator tells a change in trajectory of the price before it actually happens.
Lastly, money flow, which has been negative since March, is now in bullish territory.
Don't be surprised to see this ETF move substantially higher over the next few months. We rate this a two in TheStreet Pro portfolio, or stockpile in your portfolio on pullbacks.
More Pro Portfolio
At the time of publication, TheStreet Pro Portfolio was long CIBR.
