Recognizable Adversary:

There is an old adage in markets that PRICE “has memory”. It tends to find support and resistance in places it has before, and it is important to recognize the levels. Below is the chart of the former “old tech” best of breed cyber security play. In recent times it has been overshadowed by the likes of a CRWD FTNT and AKAM to name a few. The stock has recorded a powerful run recently doubling off the March lows like many names have, and the round number theory is pushing this one back, at the 250 figure on a WEEKLY CLOSING basis (just one week was able to CLOSE above it, the week ending 5/3/19). It was 5 handles above today 250 Monday, but reversed in a meaningful manner. Of course this week is still very early, and it could go on to eclipse the figure, but let it prove it. Makes sense to be cautious at these levels, as it has faltered here before, but remember the markets job is to confound the most. If it can break decisively and CLOSE above 250, than it can be off to the races. But most importantly let PRICE confirm. Buying early can be costly.

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