CYBR closes lower for the 2nd day in a row
CyberArk Software Ltd. (CYBR) Technical Analysis Report for Jul 24, 2020 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, CYBR ended the week 4.07% higher at 113.52 after losing $3.33 (-2.85%) today on low volume, strongly underperforming the S&P 500 (-0.62%).
Daily Candlestick Chart (CYBR as at Jul 24, 2020):
Friday's trading range has been $3.47 (3.02%), that's slightly below the last trading month's daily average range of $4.03. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for CYBR.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the two market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "RSI(2) below 20" stand out. Its common bullish interpretation has been confirmed for CyberArk Software. Out of 157 times, CYBR closed higher 58.60% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 63.69% with an average market move of 2.72%.