Chart of the Day: Is CIBR Safe After Pullback?
This cybersecurity ETF couldn't escape the tech selloff, but it appears the stock has once again landed on very strong support.
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The recent fall of technology stocks has affected many of the best groups including cybersecurity. Often considered a necessity for company spending, this group has fallen modestly off its recent highs, about 5% or so on some moderate turnover. Indicators have suddenly turned bearish, the Moving Average Convergence Divergence has rolled over and the candles are now purple. That means bearish on the GoNoGo composite of indicators.
So, while it may be looking dour for the CIBER ETF (CIBR) , it appears this is just a modest pullback within a longer term uptrend. We do not see heavy volume prints to the downside, so we'll just call this a mild pullback.
Nothing was saved this past week in technology and if the bigger names start to run before the end of 2025. We'll see CIBR doing the same. It looks like a good buy-the-dip opportunity here, with layers of support.
We like CIBR in TheStreet Pro Portfolio and rate it a two, stockpile on pullbacks.
The Pro Portfolio is long CIBR.
