CYBR breaks below Monday's low
CyberArk Software Ltd. (CYBR) Technical Analysis Report for Jul 28, 2020 | by Techniquant Editorial Team
CYBR finished Tuesday at 112.68 losing $1.75 (-1.53%), underperforming the S&P 500 (-0.65%). Trading $0.77 higher after the open, CyberArk Software was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on July 23rd, CYBR lost -2.85% on the following trading day. Closing below Monday's low at 113.00, the market confirmed its breakout through the prior session low after trading up to $0.88 below it intraday.
Daily Candlestick Chart (CYBR as at Jul 28, 2020):
Tuesday's trading range has been $2.31 (2.03%), that's far below the last trading month's daily average range of $3.93. 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.
One bullish candlestick pattern matches today's price action, the Bullish Hikkake Pattern.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the four 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 158 times, CYBR closed higher 58.86% 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 63.92% with an average market move of 2.76%.