As we move into the second half of the 2024 year, there are many ongoing and upcoming geopolitical events requiring enhanced global networking technology and security monitoring capabilities.
The cybersecurity industry is already starting to gain some momentum and we can see this reflected in the charts of the two largest global Cybersecurity ETF’s:
- CIBR ($6.7B net assets)
- HACK ($1.7B net assets)
Take a look at the charts below.
Both have formed large, multi-year rounding technical bases (weekly chart view) with potential upside/bullish continuation type patterns forming:
Amplify Cybersecurity ETF – (HACK)
First Trust NASDAQ Cybersecurity ETF (CIBR)
Good start – but how do we know where the trend is so we can make a trade decision?
With the click of a button, we can pull up HACK within our proprietary trend/trading Market Rover software and see that it’s in an uptrend (green).
A buy signal triggered on June 14th, 2024, and the T-1 profit target was achieved.
We can then also project a potential T-2 profit target objective of around $66.11 should the bullishness continue.
That’s just one ETF.
Where there’s smoke, there’s fire – so let’s go deeper into the market.
Fortunately, Market Rover can do that for us, too.
We can run a quick Market Rover search under the Technology Sector tab, and click on “Cyber Security.”
But let’s not limit ourselves.
We can add a few others, including tech software, battery tech, cloud computing, semiconductors, and ETF’s.
We want to see if there are any recent trade signals within green uptrends:
Let’s look at the first search result:
Docusign (DOCU) is showing a new green uptrend, a fresh buy trade signal on July 1st, with a potential trade Target 1 (T-1) price of around $56.79 and Target 2 (T-2) price of around $57.89.
Not bad. Let’s dig into another.
Looking at the second search result, Nutanix (NTNX):
- Market Rover fired off a trade idea buy signal on June 28th, 2024
- Price went on to hit the Target 1 (T-1) and Target 2 (T-2) objectives within the next two trading days:
So we’re finding trending trades here!
But let’s attack the cybersecurity market in another way – again, using Market Rover.
With Rover, we can also look at the Top 10 Holdings within the HACK ETF portfolio and quickly do a more detailed individual company search for recent trade idea/trend signals.
And we do it all without leaving the Market Rover platform:
HACK – Top 10 Holdings:
Suppose we want to see how Palo Alto Networks (PANW) is trending.
Here’s how it looks in the Market Rover dashboard:
The stock:
- Is in a green background – signaling an uptrend
- Had a recent buy signal trade idea on June 14th 2024, and hit a T-1 profit target of around $326 on June 24th
- Went on to hit its projected T-2 profit target (+) of around $333 on June 27th!
Now we want to keep an eye on this one.
Again, Market Rover has us covered, because we can:
- Proactively set up automatic alerts to be notified if/when specific trend/trade idea signals occur for selected assets
- See Market Rover proprietary trading algorithm Target 1 (T-1) and Target 2 (T-2) price objectives generated for potential trade exit ideas
- See potential targeted stop loss areas (white dotted areas below candles for bullish trades and above candles for bearish trades)
That’s it!
Easy, right?
Market Rover turns complicated technical analysis into just a few clicks of a button.
That’s because we built this software specifically to help self-directed traders and investors get an edge in professionally traded and increasingly “algo” driven markets.
And there’s never been a better time to start monitoring trends with Market Rover.
We’re seeing signs that this market is severely overbought… and could drop 10% very soon!
But we’re not waiting around – we have a plan.
And we want to show you.
See you on the next one,
JB & Serge
