Which Cyber Safety ETF is the StrongestShares have been hit laborious the final two weeks with the S&P 500 SPDR (SPY) breaking beneath its August low. SPY additionally solid a decrease excessive from July to August. Shares and ETFs that held above their August lows are displaying relative energy. With that in thoughts, the three cyber safety ETFs stand out and one is stronger than the others. This standout and two cybersecurity shares have been featured in Thursday’s Chart Dealer Report & Video.
The primary chart reveals SPY to set the reference factors. First, SPY fashioned a decrease excessive from July to early September (pink dashed strains). Second, SPY broke the August low with a pointy decline (inexperienced line). These are the 2 reference factors to bear in mind going ahead.
The subsequent chart reveals the Cybersecurity ETF (CIBR). First, discover that it fashioned two equal highs within the 47.50 space (pink dashed line). CIBR didn’t forge a decrease excessive and confirmed extra energy. Second, CIBR held above the August low throughout the September decline. Once more, CIBR is holding up higher and displaying relative energy.
The subsequent chart reveals the Cybersecurity ETF (BUG) with the identical traits.
The subsequent chart reveals the Cyber Safety ETF (HACK) with completely different traits. HACK solid a better excessive and a 52-week excessive on September 1st. This greater excessive means it was stronger than SPY on the best way up. HACK fell with the remainder of the market during the last two weeks, however stays nicely above the August low. HACK reveals relative energy on this decline.
The chart above additionally reveals a bullish continuation sample in play. This sample is defined within the video above. Word that I featured HACK and two cybersecurity shares within the Chart Dealer Report & Video on Thursday morning. This report additionally confirmed three short-term breadth indicators turning into oversold the final two days. Click on right here to be taught extra and achieve speedy entry.
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Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic method of figuring out pattern, discovering alerts inside the pattern, and setting key value ranges has made him an esteemed market technician. Arthur has written articles for quite a few monetary publications together with Barrons and Shares & Commodities Journal. Along with his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Enterprise College at Metropolis College in London.
