CYBR- Here’s my take (July 29, 2019)


Today I want to look at Cyberark ( NASDAQ: CYBR ), here’s why: Because everybody else was. The stock had been doing really well; we’ve been in this for a while. It was and still is one of our Growth Stocks; we got into it at $90.00.

So here’s the thing; the stock had been tracking, basically, right along the 50-day moving average here, it ran up a bit. And then today a lot of these stocks sold off apparently because of a negative article in Barron’s. I don’t read Barron’s for various reasons none of which are relevant here; it’s just kind of a waste of time. But in this case it moved some stocks, right?

With respect to Cyberark ( NASDAQ: CYBR ) what do we do? My stop was a little be below the 50-day moving average and I haven’t done anything with it. I have been in the stock for a while. Again, I like the way the stock is trading. I focused on this Darvas Box kind of concept, where the stock had been trading in a pretty well defined range. Once a stock breaks out of that range, which it did right here, then a lot of times what you will see is a new range formed, where the prior resistance here actually becomes new support. What the stock actually did was, frankly, it kind of defined what the box is right now. This is really it, Friday’s high, I would say today’s low, and so the stock is trading, basically, right at the low end of the box.

Frankly, this is what I would do: I would say if the stock closes above 140.00 today, if it closes above 140.00 I think you go in a buy a little more and watch the thing, hopefully, run up into earnings, which are due next week. I think there is a little bit more time left in this stock. It was a little bit of a white knuckler today but I think the stock is holding well and as long as it closes above 140.00 I think it’s got some room to move into earnings.

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