Security Breach:

Cyber security names are talked about incessantly as a matter of national security. The performance has not always lived up to the hype. On a general basis, one can look at the action of the HACK ETF and it is now 28% off its most recent 52-week highs. It recorded a large drawdown during a 9 of 11-week losing streak the weeks ending between 4/8-6/17 after e rebuttal at the round 60 figure. CRWD is one of the larger holdings in the fund and it is 38% off most recent 52-week highs and just last week met a swift rejection at the very round 200 number. It is now on a 5 session losing streak but finding support at its upward-sloping 50-day SMA here. VRSN met an obstacle at the same round figure that CRWD did as well as its 200-day SMA. FTNT looks in danger of losing the round 50 number as it slid underneath a bear flag pattern of 52 last Friday which carries a measured move to 41. Below is the chart of PANW and it is attempting to hold onto the 500 number within a bullish ascending triangle. A move above 540 in the neat term could ignite the group higher.

This article requires a Chartsmarter membership. Please click here to join.