The Cybersecurity trade looks to be re-igniting, as the sector ETFs are breaking out above short-term downtrends and select stocks are thrusting higher.
Stocks like Zscaler (ZS) and CrowdStrike Holdings (CRWD) are posting sharp gains. And the Global X Cybersecurity ETF (BUG) has broken above a multi-week downtrend to push up to multi-day highs.
This is bullish price action for Cybersecurity stocks and it should lead the $BUG Cybersecurity ETF back to new all-time highs.
Given that former peaks happened at/near the same levels, this is seen as particularly promising as a group to favor in the short run (especially for those that enjoy tactical longs). $BUG has a buy signal but watch the surge and look to get in on intraday pullbacks.
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The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
