CYBR rockets, gaining $4.61 (4.87%) within a single day
CyberArk Software Ltd. (CYBR) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
CYBR finished the month -4.35% lower at 99.27 after surging $4.61 (4.87%) today, notably outperforming the S&P 500 (1.54%). This is the biggest single-day gain in over a month. The last time we've seen such an unusually strong single-day gain on May 11th, CYBR actually lost -4.38% on the following trading day. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Monday's high at 96.10, CyberArk Software confirmed its breakout through the prior session high after trading up to $3.30 above it intraday.
Daily Candlestick Chart (CYBR as at Jun 30, 2020):
Tuesday's trading range has been $5.39 (5.72%), that's far above the last trading month's daily average range of $3.22. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for CYBR.
Notwithstanding a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle. Additionally, one bullish candlestick pattern matches today's price action, the White Candle.
The market managed to close back above the 100-day moving average at 98.67 for the first time since June 23rd.
The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.
Among the 11 market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 100" stand out. Its common bullish interpretation has been confirmed for CyberArk Software. Out of 33 times, CYBR closed higher 63.64% of the time on the next trading day after the market condition occurred.