Chart of the Day: Cybersecurity Stocks Start to Perk Up
Our industry ETF holding is pushing through heavy resistance.
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Don't pay all of your attention to AI these days or you'll miss out on some key opportunities. The cybersecurity stocks are always an attention-grabber. We own the Cybersecurity ETF CIBR to get full exposure to the entire sector. Some of the big names in the ETF have had a monster year and some are looking to finish the year with a bang.
CIBR had been in a nice, tight consolidation pattern for weeks and finally busted out and confirmed a new bullish trend last week. A series of higher-highs, higher-lows is our textbook definition of an uptrend.
The indicators look solid with strength in stochastics (momentum) while the Moving Average Convergence Divergence, in the second pane, is pointed higher. The parabolic SAR (stop and reverse), at the top pane, is bullish and will provide good support, the candles have now flipped to blue/teal which represents bullish on the GoNoGo composite of indicators.
If the CIBR can get past the July highs there is room to $82.
We like 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.
