Chart of the Day: A Holding Continues to Impress as 'Bad Actors' Lurk
The cybersecurity stocks are in the crosshairs as the Middle East conflict rages on.
You're reading 0 of 1 free page.
Register to read more or Unlock Pro — 50% Off Ends Soon
There is reason to worry about cyber attacks hitting the U.S. and other countries in the world following a massive air attack by the U.S. in Iran. We know "bad actors" are around every corner of the Earth and could unleash a vicious attack on computer systems anywhere and at any time.
Fortunately we have strong companies here in the U.S. that work to limit the damage caused by these attacks and to try and get in front of the criminals, although it is not easy.
The First Trust Nasdaq Cybersecurity ETF CIBR captures the biggest and the best names that work on these projects. Names such as Broadcom AVGO, CrowdStrike CRWD and Palo Alto Networks PANW, to name a few, are at the top of the board (heaviest weighting).
The CIBR chart is strong but is moving sideways, hence the indicators have slowed down considerably. While one might see bearish on the indicators that is certainly not the case with price action, which is still very bullish. At best, the bulls are taking a rest here on CIBR and waiting for the next catalyst, which might be earnings.
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.
