Let’s $HACK this chart (again)! – October 16, 2023
This is Scott with your Chart of the Day. I want to take a look at HACK ( NYSEARCA: HACK ), this is a cybersecurity ETF.
Now, I know Cybersecurity has been in the news, and we’ve seen some really nice moves out of stocks like CrowdStrike ( NASDAQ: CRWD ) and Zscaler ( NASDAQ: ZS ). There are some pretty interesting moves here just in the last couple of days.
I will be honest, it has been kind of hard to pick which cybersecurity stock to take a look at. And so I don’t mind trading an ETF that is specific to a certain sector, like HACK ( NYSEARCA: HACK ). This is definitely one that I am watching for a break out above that 53.70 level, which is just above this little consolidation level base the stock is in right now.
You can see it has been in a pretty strong uptrend since May. It has come off the lows, and yes, it has had volatility, but the lows continue to be higher. And so this is definitely a sector that I think we should be keeping an eye on if you are not already. I know we are over at Stock Market Mentor.
That 53.70 is a level that I am going to set an alert on my software. I just wanted to share this idea with you and look for a strong move coming on higher-than-average volume.
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